2 on Industrial Distribution’s 2019 Big 50 List - said it expects to use the proceeds from the White Cap sale to return capital to shareholders, fund M&A activity and repay debt. "This transaction will enable the HD Supply leadership team to intensify our focus on Facilities Maintenance, while also returning capital to our HD Supply shareholders."ĬDR previously bought HD Supply’s Waterworks business in 2017 for $2.5 billion and turned it into distributor Core & Main.
"After a detailed evaluation, we determined that a sale of our White Cap business unit to Clayton, Dubilier & Rice is in the best interests of our HD Supply stockholders,” said Joe DeAngelo, HD Supply Chairman, president & CEO. When both the White Cap acquisition and CSG merger transactions close, CD&R will own 65 percent of the combined company, while The Sterling Group - current shareholders of CSG - will own 35 percent. Meanwhile, CSG currently has 130 branches and about 2,000 employees, offering more than 60,000 SKUs to 65,000 customers. According to CD&R, White Cap operates 270 branches with about 5,500 employees and offers more than 400,000 SKUs to 200,000 customers.
White Cap serves as a distributor of concrete accessories and chemicals, tools and equipment, building materials and fasteners, erosion, waterproofing and safety products to professional contractors. Upon completing the acquisition, CD&R will merge White Cap with Construction Supply Group, a distributor of specialty concrete and masonry accessories in a move that will create a construction and safety supplies distributor with more than $4 billion in annual revenue. White Cap Construction Supply may also be known as or be related to White Cap Construction Supply Inc.Almost 10 months after initially announcing its intention to split into two equal-sized companies, HD Supply and private investment firm Clayton, Dubilier & Rice co-announced Tuesday that CDR is buying HD Supply’s Construction & Industrial – White Cap business for $2.9 billion. The data presented on this page does not represent the view of White Cap Construction Supply and its employees or that of Zippia.
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