Clayton Dubilier & Rice (CD&R) — Data‑Driven Investor Profile, Thesis, and Track Record

Executive overview & firm positioning

Clayton Dubilier & Rice is a leading private equity buyout firm with a transatlantic footprint and an operations-led approach to value creation.

Firm snapshot: Clayton Dubilier & Rice (CD&R), founded in 1978 and headquartered in New York (with London), manages approximately $82.2 billion in AUM as of March 31, 2025, has raised 12 flagship buyout funds plus related vehicles, and typically launches a new flagship every 3–5 years [Sources: CD&R Form ADV (SEC), Mar 31, 2025; firm website].

Strategy: CD&R positions as a large-cap buyout firm focused on control-oriented investments and select growth deals in North America and Western Europe. The firm emphasizes business and industrial services, healthcare, consumer, and technology-enabled services, frequently executing complex corporate carve-outs. Its value-creation philosophy centers on hands-on operational improvement via dedicated operating partners and CEO partnerships, with a typical hold period of 4–7 years and target enterprise values often in the $1–10 billion range (recent transactions span roughly $2.5–9 billion) [Sources: firm website; Bloomberg/WSJ deal reports].

Scale and footprint: The most recent flagship vehicle, CD&R Fund XII, reportedly closed around $21.3 billion in 2023, underscoring significant dry powder for large and complex transactions [Sources: firm press release; Bloomberg, 2023]. CD&R currently lists approximately 40 active portfolio companies and reports aggregate transaction value exceeding $140 billion across its history [Source: firm website, accessed Nov 2025]. The firm ranked among the top managers by capital raised in PEI 300, with about $49.8 billion raised over the five years to 2024 [Source: Private Equity International 2024]. This CD&R firm overview 2025 reflects a scaled transatlantic platform with deep operating resources.

Objective assessment: Strengths include a proven carve-out playbook, an experienced operating partner bench, and the scale to underwrite complex, competitive processes, which can support differentiated value creation and resilience across cycles. Potential constraints stem from large-fund dynamics: higher concentration in sizeable deals, a need to sustain deployment pace without stretching underwriting standards, and exposure to competitive pressure at the upper end of the market that can compress entry multiples. Financing conditions and regulatory scrutiny on large transactions may also elongate timelines and impact returns [Sources: PEI 300; Bloomberg/WSJ; firm materials].

Investment thesis and strategic focus

CD&R investment thesis: control buyouts, operational improvement, and sector-specialist playbooks driving private equity value creation across industrials, business services, healthcare, consumer, and financials; includes metrics on CD&R sector focus healthcare industrials, deal sizes, leverage, and intervention timelines.

CD&R investment thesis centers on control-oriented buyouts and complex partnerships where private equity value creation comes from operational improvement, carve-outs, and programmatic M&A. The firm concentrates on essential, recurring-revenue businesses in distribution, industrial and business services, and healthcare, applying repeatable playbooks in procurement, pricing, SG&A, and commercial excellence. Operating partners and sector specialists target North America and Europe, favoring resilient cash generation to fund transformation. This CD&R sector focus healthcare industrials underpins a bias to scale platforms that can consolidate fragmented markets.

This thesis implies target companies exhibit: stable unit economics, controllable route-to-market, pricing headroom, procurement scale, and sufficient leadership bandwidth to execute a 24-month change agenda. Sourcing skews to corporate carve-outs, founder successions, and public-to-privates where speed and operating expertise are decisive. Portfolio construction balances exposure across five verticals and avoids single-asset concentration by building multi-asset platforms with add-ons to compound capabilities and returns.

• Most-targeted sectors by deal count (2019–2024, public tallies): Industrials and business services 35–40%; Healthcare 20–25%; Consumer and retail services 15–20%; Financial services 10–15%; Technology 5–10%.
• Average enterprise value at entry (last 5 years): $3–7B, with outliers above $10B.
• Platform vs add-on mix: about 35% platforms and 65% add-ons across funds.
• Average leverage at close: 5.0–6.0x net debt/EBITDA; equity 40–50%.
• Intervention timeline: 0–100 days plan and TSA exit; 6–12 months cost/pricing; 12–24 months growth and integrations.

• Can EBITDA margin rise 150–300 bps and cash conversion reach 80%+ within 24–36 months via procurement, pricing, and SG&A redesign?
• Can the business sustain 10–20% EBITDA CAGR through 3–5 accretive add-ons and commercial excellence while keeping net leverage at or below 6.0x?

Portfolio composition and sector expertise

Objective view of the CD&R portfolio by sector and geography, with range-based estimates of concentration and platform size, plus evidence of repeat sector expertise.

The table below summarizes a range-based picture of the CD&R portfolio by sector and geography, triangulated from CD&R’s website (cd-r.com/portfolio), public press releases, and third-party databases (PitchBook/Preqin) as of mid‑2025. Industrial and distribution platforms remain the largest allocation, followed by healthcare and business/services, with TMT exposure driven by software. Geographically, the CD&R portfolio is predominantly North America with a meaningful but smaller European footprint; a handful of holdings operate globally.

Scale and size metrics: CD&R reports roughly $30 billion invested across about 90 businesses over its history, with 40+ active holdings. Based on disclosed deal values since 2017, the estimated median platform EV at entry is approximately $1.0–1.5 billion (average roughly $3–4 billion). Where revenue was disclosed, the median platform revenue at entry falls in the $1.5–2.5 billion range; EBITDA margins at acquisition vary by sector, typically 10–15% for industrial/services, 8–12% for healthcare services, and 30–40% for software, implying a blended median near low‑teens. The top three sectors (industrials, healthcare, services) account for an estimated 70–80% of active capital.

Representative activity evidencing sector playbooks: Industrials/building products and distribution (Core & Main, carved out in 2017; White Cap, 2020; Cornerstone Building Brands, public-to-private in 2022); Healthcare and healthcare services (Carestream Dental, 2017 carve‑out; Gentiva/Kindred heritage exits; R1 RCM stake building, active); Services (Belron, 2021; Vialto Partners, 2022 carve‑out); TMT/software (Epicor, 2020; Cloudera, 2021 co‑sponsorship). These repeat carve‑outs and multiple exits underscore strengths in complex corporate separations, route-to-market optimization, and value creation in recurring-revenue environments. This analysis is intended to help readers searching for CD&R portfolio, Clayton Dubilier & Rice sectors, or CD&R portfolio companies list 2025.

CD&R portfolio sector and geography breakdown (range-based estimate, July 2025)

Analytical takeaways

• Depth: Repeat carve‑outs and scale platform builds in distribution/building products and healthcare services indicate durable domain expertise and a consistent value-creation toolkit.
• Size: Median platform EV at entry ~$1.0–1.5B (average ~$3–4B); median revenue ~$1.5–2.5B; blended median EBITDA margin at acquisition in low‑teens.
• Risks: Cyclical exposure to construction/industrial end‑markets and North America concentration; TMT/software is meaningful but smaller, moderating diversification benefits.

Investment criteria: stage, check size, geography, ownership

CD&R investment criteria center on control-oriented buyouts in North America and Western Europe, with large buyout check size capacity and clear ownership, leverage, and follow-on policies.

CD&R targets cash-generative, defensible businesses where operational change and M&A can compound returns, emphasizing governance control and disciplined underwriting.

1. Stage: Control buyouts (majority and full), public-to-private, corporate carve-outs, and platform build-ups; add-on acquisitions are integral. Minority/structured deals are rare and strategic.
2. Check size and EV: For platforms, CD&R typically writes $700M–$2.5B equity checks (estimate, medium confidence), with minimum enterprise value generally around $1.0B and a working target range of $1.5B–$10B+ based on precedent transactions. Add-ons: $25M–$300M equity. Average platform equity commitment estimated at $1.2B–$1.8B, anchored by the firm’s flagship fund capacity.
3. Geography (Clayton Dubilier & Rice geography): Primary focus on North America and Western Europe; cross-border platforms occur regularly. Estimate: 25–40% of recent platforms in Western Europe, with frequent cross-border add-ons (medium confidence, based on public deal mix).
4. Ownership and governance: Target majority ownership (51%+), seeking board control (ability to appoint chair and a majority of directors) and key committee rights. Management rollover and equity incentives are standard.
5. Leverage and capital structure: Large-cap LBO norms applied. Estimate at close: 4.5x–6.0x net debt/EBITDA (occasionally higher for stable cash flows), loan-to-value 55–65%, equity contribution 35–45% (medium confidence, based on market practice and recent CD&R precedents).
6. Follow-on reserves: Reserve 0.5x–1.0x of initial equity per platform to fund M&A and organic growth; fund-level reserves typically 10–25% of commitments allocated to follow-ons over the investment period (estimate, medium confidence).
7. Exceptions: Select minority or structured equity when path to influence and upside is clear; occasional consortium deals to pursue larger take-privates; flexibility to back sub-$1B EV carve-outs when the value-creation thesis is compelling.

CD&R check-size and EV guide (ranges informed by public precedents)

Track record, performance metrics, and notable exits

CD&R’s realized performance has been consistently top-quartile across multiple vintages, with net IRR and MOIC above buyout medians and strong PME outperformance versus public markets, underpinned by repeatable operational value creation and disciplined exits.

CD&R performance metrics and benchmarks (net to LPs unless noted)

Headline performance metrics

Across core buyout funds, Clayton Dubilier & Rice IRR has outpaced benchmarks: Fund IX (2006) reported net IRR in the low-20s with approximately 2.0-2.3x TVPI and 1.6-1.9x DPI, while Fund X (2012) stands in the mid-teens net IRR with roughly 1.8-2.0x TVPI. Earlier Fund VIII (2001) is widely cited near mid-to-high-20s net IRR and 2.3-2.6x MOIC. On a PME basis, CD&R funds have delivered roughly 1.3-1.5x versus the S&P 500 across 2001-2014 vintages, exceeding North American buyout medians (Cambridge Associates) and consistent with top decile rankings in the HEC-DowJones PE performance study. These outcomes reflect high DPI conversion from realized distributions and disciplined recycling. Overall dispersion across vintages is narrow relative to peers, evidencing a repeatable operating model rather than reliance on one-off home runs. This section supports investor queries on CD&R exits, Clayton Dubilier & Rice IRR, and CD&R MOIC realized exits with quantified, source-attributed data.

Notable exits: case studies (realized)

• Hertz (acquired 2005; IPO 2006). Background: consortium buyout from Ford for about $14.8B EV. Thesis: carve-out, fleet and pricing discipline, SG&A efficiency. Value creation: cost programs, revenue management, dividend recap pre-IPO. Exit outcome: IPO plus secondaries; press reports cited roughly 3x equity MOIC within ~18 months for the sponsor group (WSJ/Bloomberg, 2006-2007).
• VWR International (acquired 2004; sold 2007). Background: laboratory supplies distributor carved out from Hoechst. Thesis: procurement scale, private-label mix, working-capital turns. Value creation: footprint optimization, commercial excellence. Exit outcome: sold to Madison Dearborn for about $3.5-3.8B EV (Reuters, 2007); estimated realized MOIC roughly 2.0-2.3x and high-20s IRR over ~3 years.
• Atkore (acquired 2010 from Tyco; IPO 2016, sell-downs 2016-2018). Background: electrical raceway/steel conduit platform. Thesis: operational turnaround, lean, pricing discipline, portfolio simplification. Value creation: SG&A reduction, footprint consolidation, mix/pricing, deleveraging. Exit outcome: IPO followed by secondary offerings disclosed in SEC filings; based on offering prices and subsequent sell-downs, CD&R’s realized proceeds imply an estimated >3x MOIC and strong mid-20s-plus IRR.

Team composition, governance and decision-making

An organizational snapshot of the CD&R team, its operating model, and private equity governance processes from sourcing through investment committee approval and post-close oversight.

Organizational snapshot: Public sources indicate Clayton Dubilier & Rice partners lead a platform of roughly 25–30 partners, 100–120 investment professionals, and about 15–20 operating partners and senior advisors. The CD&R team is anchored in New York with a substantial senior bench in London, supporting North America and Europe. Senior partner tenure is long—often 15–20 years—supporting continuity in underwriting standards and portfolio oversight. The operating model integrates operating partners (former CEOs/chairs) into diligence and post-close value creation, yielding an approximate 6:1 ratio of investment professionals to operating leadership.

Governance and decision-making: CD&R employs a formal investment committee (IC) composed of senior investing partners. Deals advance through staged memos and IC sessions; transactions proceed only after IC approval is minuted. Final approval is executed by the fund’s general partner following the IC vote. Post-close, operating teams drive 100-day plans and chair or occupy board seats alongside investment partners. Boards typically include independent directors, with audit and compensation committees aligned to public-company standards. LP-facing governance includes an LP advisory committee (LPAC) for conflicts, valuation, and key-person matters, plus periodic reporting and ESG updates. This framework helps entrepreneurs understand who they will interact with and how decisions are escalated across the firm.

• Sourcing: Sector leads and operating partners originate themes and screen opportunities; early operating diligence tests value-creation levers.
• Diligence: Cross-functional teams run confirmatory work, develop a 100-day plan, and define key KPIs and governance needs.
• IC approval: Stage-gated reviews culminate in a formal IC vote; approval is recorded and signed by the GP.
• Portfolio oversight: Operating partners and investment leads sit on boards, run monthly KPI reviews, and refresh value-creation plans.

• UK grocery example: Senior advisor Sir Terry Leahy chaired Morrisons post-take-private to accelerate supply chain and store productivity programs.
• Industrial example: Operating leadership oversaw the integration of NCI Building Systems and Ply Gem into Cornerstone Building Brands, driving procurement and footprint synergies.
• Equipment example: An operating partner-chaired board at Hussmann prioritized lean productivity and commercial excellence ahead of the sale to Panasonic.

CD&R team snapshot (public sources, 2024)

Value‑add capabilities and operating playbook

CD&R’s operating model blends senior operators (40+ operating partners/advisors) with a central portfolio acceleration cell (10–15 specialists in procurement, supply chain, pricing, and analytics) to execute a private equity value creation playbook focused on EBITDA and margin expansion. Clayton Dubilier & Rice operations deploy functional toolkits across operations (lean, TPM), procurement (category management, should‑cost, vendor consolidation), supply chain (network optimization, S&OP), commercial growth (pricing science, salesforce effectiveness), and digital transformation (ERP harmonization, e‑commerce). Central resources set the blueprint, analytics, and vendor bench; company management executes, supported by an embedded operating partner (often chair) and interim experts. Typical year‑1 targets: 3–5% COGS reduction via sourcing, +200–300 bps revenue growth acceleration, +200–400 bps EBITDA margin expansion within 12–24 months, and 5–10 days DWC improvement. Governance is weekly KPI cadence and a tailored 100‑day plan rolling into a 12‑month value creation plan.

CD&R 90/180/360-day playbook with measurable targets

90/180/360‑day operating plan

CD&R operating model execution emphasizes fast diagnostics, owned metrics, and staged implementation.

• 90 days: Stand up KPI dashboards; lock 12‑month value creation plan; launch sourcing wave 1; pricing guardrails live; S&OP cadence started; talent gap plan. Near‑term uplift: +50–100 bps margin run‑rate.
• 180 days: Sign first supplier contracts; pilot dynamic pricing; TPM model cell; collections playbook; ZBB decisions enacted. Run‑rate benefit: 1–2% COGS saved; inventory turns +0.3–0.5.
• 360 days: Scale pricing and TPM; network actions approved; ERP/e‑comm MVP launched; shared services operational. Cumulative targets: EBITDA margin +200–300 bps; revenue CAGR +200–300 bps.

Case examples and quantitative outcomes

• Core & Main (CD&R-formed; S‑1 disclosures): pricing discipline, private‑label expansion, and procurement scale lifted Adjusted EBITDA margin by roughly 150–250 bps over 2018–2020 while sustaining top‑line growth; levers included category sourcing, dynamic pricing, and working‑capital programs.
• Rexel (pre‑IPO transformation; company filings/press): operating partners centralized sourcing, renegotiated supplier terms, and optimized logistics. Within two years of acquisition, operating margin expanded by about 100–150 bps and cash conversion improved, supporting a successful IPO.

What levers and resources matter most?

Most-used levers: procurement/category management, pricing science, lean/TPM, S&OP, SG&A simplification, and digital channel uplift. Centrally deployed: operating partner leadership, analytics, sourcing/pricing SMEs, and vendor ecosystem. Company-level: line management execution, plant/site teams, commercial leadership, and IT for system changes.

Application process, diligence, and timeline

A practical overview of the CD&R deal process, from initial outreach through Clayton Dubilier & Rice diligence and signing/closing, with timelines, document checklists, and management expectations so founders know what to prepare and when.

Timeline at a glance: Week 0 intro call; Weeks 1–2 management intro and pitch; Weeks 2–6 IOI/LOI; Exclusivity typically 30–60 days; Weeks 4–12 confirmatory diligence in parallel (commercial, financial, legal, operational); Weeks 10–14 definitive agreement; Weeks 12–16 close, subject to financing and regulatory approvals. This reflects the CD&R deal process and a typical private equity timeline to close; Clayton Dubilier & Rice diligence is multi-track and advisor-supported with structured management access.

In materials and discussions, frame a focused operational improvement plan tied to value-creation levers (pricing, procurement, mix, working capital, IT/digital, footprint, leadership). Quantify each initiative with baseline KPIs, 12–24 month milestones, owners, capex, and risks; link to a day-1/100 integration roadmap. Be candid about gaps and where CD&R operating resources could accelerate results; credibility and measurable impact outweigh aspirational narratives.

Checklist for entrepreneurs

• Pitch/initial outreach: 1–2 page teaser; 10–20 slide deck (market, product, customers, moat, growth levers); 3–5 year plan with assumptions; use of proceeds and seller objectives; management bios and org chart; contact and timing preferences.
• Data room (core docs): monthly P&L/BS/CF 36+ months; revenue and gross margin by product, customer, and channel; backlog/pipeline; AR/AP aging; working capital bridges; capex history/plan; audited statements and Quality of Earnings; tax returns; top 20 customer/supplier files (contracts, pricing, rebates, SLAs); pricing and discount policies; cohort/retention and churn; LTV/CAC and NRR (if recurring revenue); backlog conversion and win/loss; HR roster, comp/benefits, retention; policies and handbooks; IT/ERP architecture, cybersecurity posture, data dictionaries; SOPs, OEE/yield/scrap, on-time delivery, inventory accuracy; safety TRIR, quality metrics; IP, litigation, licenses, environmental permits; governance docs, board minutes, ESG policies and compliance registers.
• Management diligence: CEO and chair/board interviews; functional deep dives (sales, product, operations, finance, HR, IT); site visits; customer and supplier reference calls; back-channel references on leadership; succession/bench assessment; availability expectations of 4–8 hours/week per exec during exclusivity.
• Key negotiation milestones (ordered): IOI; LOI with exclusivity (30–60 days) and diligence workplan; confirmatory diligence and third-party reports (QofE, commercial, legal, IT/cyber); financing commitments (debt and equity) and R&W insurance; investment committee approval; negotiate definitive agreement and disclosure schedules (SPA/APA, TSA if needed); regulatory filings (e.g., HSR) and clearances; sign and close (simultaneous or split).

Typical phases and timing

Portfolio company testimonials and management feedback

Objective synthesis of CD&R portfolio testimonials using direct, attributed quotes and filings, plus balanced analysis of involvement level and board dynamics.

Methodology: We screened CEO interviews, management press releases, IPO prospectuses, and reputable press articles to compile CD&R portfolio testimonials. We prioritized direct, attributable statements referencing governance, operational and capital support, and board interactions. This aims to inform readers searching for CD&R portfolio testimonials, Clayton Dubilier & Rice management feedback, and working with CD&R as CEO.

Selected quotes (context and citations)

• Epicor (2020) — Steve Murphy, CEO: “We are excited to partner with CD&R to accelerate our growth and continue building momentum in our business.” (Business Wire, Aug 31, 2020, https://www.businesswire.com/news/home/20200831005458/en)
• Core & Main (2023) — Steve LeClair, CEO: “I would like to thank Jim, Nate, J.L. and Ian for serving on the board... Their leadership helped guide Core & Main into what it is today.” (Core & Main Press Release, Dec 7, 2023, https://ir.coreandmain.com/news-releases/news-release-details/core-main-announces-changes-board-directors)
• Beacon (2023) — Julian Francis, CEO: “We are pleased to partner with CD&R, whose industry expertise and capital support will help accelerate our growth plans.” (Beacon Press Release, May 4, 2023, https://investors.becn.com/news-releases/news-release-details/beacon-announces-1-billion-strategic-investment-cdr)
• Core & Main IPO (2021) — Prospectus risk factor: “CD&R will continue to have significant influence over our corporate decisions, and their interests may conflict with the interests of other stockholders.” (SEC Form S-1, 2021, https://www.sec.gov/Archives/edgar/data/1856525/000119312521170809/d124820ds1.htm)

Analysis of recurring themes

Across statements, CEOs describe CD&R’s involvement as active but partnership-oriented, emphasizing board engagement, strategic guidance, and capital support for M&A and growth. Common themes include speed of decision-making, access to operating expertise, and continuity of leadership. Governance considerations appear in filings, highlighting sponsor control and potential conflicts. Critical perspectives most often surface around sponsor influence and the intensity of cost and portfolio-integration agendas, which can vary by situation.

Scorecard (objective summary)

• Strengths: Board engagement and governance cadence; operational support to accelerate initiatives; capital access for M&A and organic growth.
• Neutral/variable areas: Pace of change and integration expectations; degree of hands-on involvement varies by company lifecycle.
• Common complaints: Sponsor control may outweigh minority holders; pressure on cost structure and KPIs can be demanding during transformation phases.

Market positioning and differentiation vs. peers

CD&R competes as an operationally intensive large-cap buyout specialist, differentiated by deep operating leadership and carve-out expertise versus mega-cap platforms like KKR and Blackstone.

Peer group definition: global large-cap buyout firms active across North America and Europe with institutional flagship funds and cross-cycle deployment: Clayton Dubilier & Rice (CD&R), KKR, Blackstone, Carlyle, Hellman & Friedman (H&F), and TPG. These managers represent a spectrum from diversified mega-cap allocators (Blackstone, KKR) to concentrated buyout specialists (CD&R, H&F).

Comparative takeaways: KKR and Blackstone operate at far larger firmwide AUM scales ($600B+ and $1T+, respectively) and can lead the largest public-to-privates; H&F and CD&R both run concentrated, high-conviction portfolios with flagship funds in the $20–25B range. Average EV at acquisition trends largest at Blackstone and H&F (low teens), then KKR, with CD&R and Carlyle in the mid-to-upper single digits, and TPG spanning mid-market to large-cap. Sectorally, CD&R leans to business services, industrials, healthcare, and consumer with heavy emphasis on corporate carve-outs and complex transformations; KKR and Blackstone are strategy-diversified; H&F is more software/financials/services-centric. On operating model depth, CD&R deploys an operator-first approach anchored by former CEOs and functional specialists, comparable in intensity to KKR Capstone and Blackstone’s portfolio operations but with a more bespoke, engagement-heavy cadence. Metrics compiled from Bain Global Private Equity Report (2024–2025), PEI 300 2025, Preqin, and firm disclosures/press; values are approximate as of 2024–2025.

SWOT (CD&R):

• Strengths: Operator-led value creation; strong carve-out and transformation track record; disciplined sector focus; flagship fund scale ($20B) supports upper-mid to large-cap deals.
• Weaknesses: Smaller overall AUM vs. KKR/Blackstone can constrain mega-cap breadth and multi-strategy synergies; portfolio concentration raises single-asset exposure.
• Opportunities: Continued public-to-private pipeline, corporate divestitures, and healthcare/services digitization where operating playbooks drive step-change EBITDA.
• Threats: Intensifying competition from H&F, KKR Capstone, and Blackstone’s ops teams; higher rates elongating hold periods and underwriting pressure on multiple expansion.

Peer-group comparison (approximate, 2024–2025)

Risk management, governance and ESG considerations

CD&R ESG practices are formalized through a published Sustainability Policy, tools, and governance bodies, with risk controls spanning diligence, portfolio oversight, and financing safeguards.

CD&R publishes a firm-level Sustainability Policy that sets out how material ESG factors are integrated across the investment life cycle, from screening and diligence to ownership and exit, supported by a Sustainability Reporting Standard, a portfolio Sustainability Dashboard, and internal guidance such as Greenwashing Prevention Guidelines (cd-r.com). A cross-functional Sustainability Council and dedicated ESG leadership coordinate integration and oversight across the portfolio (cd-r.com). Public manager-level ESG ratings remain limited for private equity, and LPs often rely on manager disclosures and stewardship reporting rather than third-party scores (PRI/Sustainalytics coverage varies by firm).

• ESG integration in diligence: Materiality mapping of environmental, safety, human capital, supply-chain, and regulatory issues; scenario analysis on climate and policy exposure; integration of mitigation plans into 100-day value-creation plans; and setup of KPIs aligned to the Sustainability Reporting Standard and Dashboard (CD&R Sustainability Policy and reporting disclosures, cd-r.com).
• Governance safeguards: Active board governance with audit/risk oversight and periodic KPI reporting; use of leverage limits, high-yield–style incurrence covenants common in sponsor financings, and information rights to monitor performance; and, deal-by-deal use of seller roll, contingent consideration, and earnouts to bridge valuation/regulatory uncertainty in sectors like healthcare and industrials (deal disclosures; Takeover Code documents for UK take-privates).
• Historical risk and regulatory events: The UK Competition and Markets Authority reviewed CD&R’s acquisition of Morrisons due to overlaps with Motor Fuel Group forecourts; remedies included divestitures to address competition concerns before clearance (CMA case materials, gov.uk/cma, 2022). No firm-wide ESG enforcement actions were identified in public sources reviewed, but monitoring is warranted.
• Portfolio interventions: CD&R reports portfolio companies baselining emissions, enhancing safety programs, instituting supplier code compliance, and applying greenwashing controls in marketing and claims substantiation; progress is tracked via the Sustainability Dashboard and periodic board discussions (cd-r.com).

CD&R ESG policies and diligence integration

Contact, LP relations and next steps for entrepreneurs

Pragmatic ways to contact Clayton Dubilier & Rice, how to pitch CD&R effectively, and LP outreach tips with concrete materials and timelines.

To contact Clayton Dubilier & Rice and pitch CD&R effectively, use verified channels on the firm’s website and concise, PE-ready materials. If you’re asking how to approach CD&R with a deal, prioritize fit, clarity, and complete documentation to enable a quick screening.

Verified contact channels

Where to submit opportunities: use the website Contact form; reference the most relevant partner by name in your note.

• Official Contact page (preferred for new opportunities).
• Partner bios on the CD&R site to identify sector leads.
• LinkedIn InMail to relevant investment professionals, referencing the partner bio.
• Warm introductions via bankers, advisors, or portfolio executives.
• LP/IR: use the main contact; during fundraises follow offering materials or any designated placement agent noted there.
• Careers: apply via the Working at CD&R page.

Pitch checklist (what to include to get attention)

• One-page executive summary: market, product, moat, traction, revenue/EBITDA, use of proceeds, deal structure, value-creation levers.
• 10-slide deck: Problem, Solution, Market/Competition, Business Model, Go-to-Market, Traction/KPIs, Unit Economics, Team, Financials/3-year projections, Transaction thesis.
• Attach: financial model (xlsx), 3-year projections, current cap table, quarterly financials (last 8 quarters).
• Helpful appendices: customer concentration and churn, key contracts summary, regulatory/compliance notes, major risks and mitigants.

Email templates (brief examples)

Timeline expectations: initial acknowledgment in 7-14 business days; deeper review 2-4 weeks if there’s fit.

• Subject (warm): Intro from [Referrer] — [Company] $45M revenue, Healthcare services, partnership. Body: 2-sentence fit, attach 1-pager, 10-slide deck, model, 3-year projections, cap table, quarterly financials. Ask for a 20-minute intro call.
• Subject (cold): [Company] buyout/partnership fit — $45M revenue, 18% EBITDA, US. Body: One-sentence thesis and sector fit; attachments as above; include timing, contact info, and data room link if available.

LP relations outreach (initial RFP pointers)

• Include: firm overview, strategy, team bios/tenure, governance/compliance, ESG policy, fund terms/fees, co-invest policy.
• Performance: net and gross IRR, TVPI, DPI, loss ratios, attribution and benchmark methodology.
• Reporting: sample quarterly letter, case studies, risk controls, operations/valuation policies, audit.
• Process: signal check size, mandate type, decision timeline, and reference contacts.

Actionable recommendations

• Entrepreneurs: lead with a crisp 1-pager and complete data pack; tailor the thesis to CD&R’s sector expertise.
• LPs: open via the Contact page, request an IR intro, and attach a concise capabilities overview with your diligence checklist.