Debevoise & Plimpton LLP is advising Clayton, Dubilier & Rice in its $3.8 billion acquisition of Anixter International Inc., a New York Stock Exchange listed company. Under the terms of the merger agreement, CD&R-managed funds will acquire all of the outstanding shares of Anixter common stock for $81.00 per share in cash. The transaction will result in Anixter becoming a private company and is expected to close by the end of the first quarter of 2020. For more information please see the company’s press release.
Founded in 1978, Clayton, Dubilier & Rice is a private investment firm. Since inception, CD&R has managed the investment of $28 billion in 86 companies, including numerous electrical and industrial distributors. Anixter International Inc. is a leading global distributor of Network & Security Solutions, Electrical & Electronic Solutions and Utility Power Solutions.
The Debevoise team is led by M&A partners Kevin Schmidt and Jennifer Chu and includes finance partner Jeffrey Ross, capital markets/private equity partner Morgan Hayes, tax partner Erin Cleary, competition partner Timothy McIver and employee benefits partner Frank Mitchell, finance counsel Margaret O’Neill, environmental counsel Stuart Hammer, antitrust counsel Kyra Bromley, and litigation counsel Erich Grosz, and M&A associates John Love, Vishaal Sharma and Ashtyn Ka, tax associates Wendy Widman and Molly Klinghoffer, finance associate Brett Novick competition associate Anne-Mette Heemsoth, capital markets associate Devon Klein, litigation associate Carolina Kupferman, intellectual property associate Benjamin Sundholm and finance law clerk Melody Godbolt.