Clayton, Dubilier & Rice (CD&R) has announced that Charles A Banks, former chief executive officer of Wolseley Plc has joined the firm as a partner. He will be based in CD&R’s New York office. Banks led Wolseley, the world's largest specialist trade distributor of plumbing and heating products to professional contractors and a leading supplier of building materials in North America, the UK and Continental Europe, from 2001 to July 2006.
Company has so far added on three companies and used its cashflow to acquire them
Responsible & Sustainable Corporate Turnaround Fund intends to support the recovery of Italian companies
Sale ends a three-year holding period for the GP, which invested in the company via its seventh fund
Ireland-based enterprise procurement software company is also backed by Paua Ventures