Clayton, Dubilier & Rice will be exiting its stake in Diversey Holdings as part of a $4.3 billion sale of the company to Sealed Air (NYSE: SEE). Diversey provides commercial cleaning, sanitation and hygiene solutions. The company's shareholders will receive $2.1 billion in cash and a total of 31.7 million shares of Sealed Air common stock. CD&R acquired a 46% stake in Diversey for $477 million in 2009.
Since the beginning of 2009, PE investors have exited 92 companies in the Commercial Products industry, according to the PitchBook Platform. Exit activity in the industry rose from 29 completed exits in 2009 to 45 in 2010. 2011 is on track to match last year's exit count with 19 exits already completed. This year, the Machinery sector, which has accounted for 32% of 2011's exits, is leading the activity, followed by Industrial Supplies & Parts with a 16% share. Despite the strong exit activity, the number of Commercial Products companies in PE investors' portfolios is not getting any smaller, because during the same time period, 265 PE investors completed investments in 371 Commercial Products companies. The most active of those investors were CD&R and Graham Partners, each with 8 deals.