CD&R To Purchase $447M Stake In JohnsonDiversey

Law360, New York (October 7, 2009, 6:25 PM EDT) -- As part of a broader recapitalization transaction, JohnsonDiversey Inc. announced Wednesday that private equity firm Clayton Dubilier & Rice Inc. has agreed to invest $477 million for a 46 percent stake in the commercial cleaning product supplier.

The broader recapitalization transaction is valued at $2.6 billion, JohnsonDiversey said in a statement Wednesday, which includes a debt financing package of approximately $1.9 billion.

JohnsonDiversey will also be changing its name to Diversey Inc., the company said.

Racine, Wis.-based JohnsonDiversey said the recapitalization would give the company additional...
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