Debevoise & Plimpton is advising Clayton, Dubilier & Rice on the financing aspects of an agreement under which CD&R-managed funds will acquire Mauser Group from Dubai International Capital (DIC), the private equity arm of Dubai Holding.
Latham & Watkins provided DIC with legal counsel. Mauser is one of the world’s leading industrial packaging companies, with approximately 4,400 employees and consolidated revenues of over USD 1.6 billion. Mauser now operates out of 83 facilities across 18 countries, up from 53 facilities in 12 countries in 2007, and profit margins are reported to have steadily increased in that time as well. The transaction, which is expected to close in the third quarter of 2014, is valued at approximately EUR 1.2 billion.
Since its inception in 1978, the CD&R private equity firm has managed the investment of USD 19 billion in 59 U.S. and European businesses with an aggregate transaction value of approximately USD 90 billion.
The sale and purchase agreement is conditional upon receipt of all appropriate anti-trust approvals.
David Smoot, Chief Executive Officer of Dubai International Capital, commented: “Mauser has been a very successful investment for DIC, providing a return of approximately double our equity invested. We partnered with a strong management to improve the Group from both a strategic and financial perspective, and now is the right time for it to continue its development under new ownership. Mauser is well positioned to drive further growth and profitability given its attractive global platform.”
The Debevoise team advising CD&R is led by Partner Jeffrey Ross and includes Partners David Brittenham, Alan Davies, and Matthew Saronson, International Counsel Cecile Beurrier and Philipp Von Holst, and Associates Thomas Dobleman, Ramya Tiller, Ryan Rafferty, Klaudius Marius Heda, Thomas Smith, and Patrick Fasoro. Bank of America Merrill Lynch acted as exclusive financial advisor to DIC.
