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Clayton, Dubilier & Rice to Acquire World's Leading Materials Testing Business from Bodycote plcLONDON andNEW YORK, Aug. 28 /PRNewswire/ -- Clayton, Dubilier & Rice
("CD&R"), a global private equity firm with a strategy of building and growing
the businesses in which it invests, today announced a definitive agreement to
acquire Bodycote Testing Group ("BTG"), the world's leading materials testing
business, from Bodycote plc. The transaction is valued at approximately
pounds Sterling 417 million. BTG provides technical and engineering services to the aerospace, energy, oil and gas, civil engineering, transportation, pharmaceutical, food, consumer products and medical device industries. BTG's services include quality control, product accreditation, and specification compliance mission critical to its customers and require demanding accreditation and technical know-how. BTG operates over 130 laboratories in more than 25 countries worldwide. "As a market leading, multi-location services business with customers in
diversified and resilient industries, BTG exhibits the key characteristics
that we look for in all of our investments," said The transaction, which is conditional on the approval of Bodycote's Shareholders and the receipt of certain regulatory approvals, is expected to complete before the end of October 2008. About Clayton, Dubilier & Rice Founded in 1978, Clayton, Dubilier & Rice, Inc. is one of the most
experienced and respected private equity firms. The firm's focused investment
strategy is predicated on producing superior financial returns through
building stronger, more profitable businesses. More than two-thirds of CD&R's
transactions have involved corporate divestitures. Approximately 90 percent
of the firm's historical returns have resulted directly from business
improvements, as measured by earnings growth. Since inception, CD&R has
managed the investment of more than SOURCE Clayton, Dubilier & Rice, Inc. Tags: ,FIN,TNM,NY-CD&, RAcquireTesting _ _Is your favorite bookmark site missing? Ask for it. |
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