Clayton, Dubilier & Rice has acquired a 42.5% stake in Univar. The transaction values the commodity and specialty chemical distributor at $4.2 billion. Post-transaction, CVC Capital has retained a 42.5% ownership interest. The firm acquired its original stake in Univar through a €1.6 billion ($2.1 billion) LBO in 2007. Univar filed for an IPO in June but canceled its plans to go public when it entered into a definitive agreement with CD&R.
60 companies in the Chemical industry have been involved in PE deals since the beginning of 2008, according to the PitchBook Platform. 2010 is on its way to matching, or possibly even exceeding, 2009's final deal count of 15. So far in 2010, 14 deals have been completed with another one announced but still in play, and even though that's merely half of 2008's activity, two of the largest deals during the time period were completed this year: the above Univar transaction and the $1.63 billion acquisition of Dow Chemical's Styron Unit by Bain Capital in June.