CD&R’s European sourcing strategy focuses on:

• Complex carve-outs and business transformations. CD&R brings special expertise and value to divestiture transactions, as evidenced by the firm’s purchase of Exova (based in the U.K. but with facilities in 26 countries across four continents) from Bodycote plc in October 2008, its purchase of U.S. Foodservice from The Netherlands-based Royal Ahold in July 2007 and its purchase of VWR International from Germany-based Merck KGaA in April 2004. The Firm also has invested in public and private companies in need of transformation.
• Global businesses. Rexel, acquired in 2005 from the French company Pinault-Printemps-Redoute, is the world’s leading distributor of electrical supplies. Hertz, acquired in 2005 from Ford Motor Company, is the world’s largest general use car rental brand and operates one of the world’s largest equipment rental businesses. Culligan, acquired in 2004 from the French firm Veolia Environnement SA, provides water treatment products and services in over 70 countries throughout Europe, Asia, the Americas, the Middle East and Africa.
• Industries in which it has demonstrated prior success. In 2002, CD&R bought Brakes – one of Europe’s largest foodservice distributors – following the firm’s successful transformation of U.S.-based Alliant Foodservice. CD&R’s investment in Rexel leveraged its prior ownership of WESCO, a leading distributor of electrical products in North America.
• Strategic portfolio company acquisitions. Under CD&R’s ownership, Rexel has pursued organic growth and profitability while executing targeted acquisitions. In 2006, CD&R helped the company gain a leadership position in North America by assisting with the sourcing of GE Supply. This one move validated CD&R’s long-term approach because CD&R had begun discussions with GE several years prior to the transaction. Similarly, in 2007, after having spent years evaluating Hagemeyer as a standalone investment, CD&R assisted Rexel in acquiring the company. In the end, CD&R brought extensive insight to the investment – and completely transformed Rexel’s European footprint.