History and Key Investments - Founded in 1976 by Martin H. Dubilier, Eugene Clayton, and Bill Welsh - Joseph L. Rice III joined in 1978, and the firm became known as Clayton, Dubilier & Rice in 1992 - Executed a leveraged buyout in 1987, spinning off Borg-Warner's Industrial Products Division into BW/IP International - Added nine new partners between 1987 and 1992, five of whom had previous CEO experience - Acquired Uniroyal Goodrich Tire Company and a 50% stake in B.F. Goodrich in 1988 - Key investments include B&M Retail, Envision Healthcare, The Hertz Corporation, Hussman International, and Rexel (distributor of electrical parts and equipment)

Notable Deals and Partnerships - Formed Lexmark from IBM's printer and keyboard manufacturing business in 1990 - CD&R purchased Culligan International in 2003 - Teamed with Merrill Lynch, The Carlyle Group, and Barclays to acquire The Hertz Corporation in 2005 - Acquired a 60% stake in John Deere Landscapes (now SiteOne Landscape Supply) in 2013 - Purchased Wolseley UK, the largest supplier of plumbing and building materials in the UK, in 2021

Accusations and Controversies - Faced accusations of asset stripping during the bid to buy out Morrisons, leaving Culligan saddled with over $850 million of debt - CD&R denied the accusations and Centerbridge Partners acquired Culligan in 2012 - Acquired a stake in SmileDirectClub after investing $380 million in 2018 - Acquired a 60% stake from the family owners of American Greetings in 2018 - CD&R invested alongside the founder of WSH Investments Ltd., Alistair Storey, in 2019

Recent Acquisitions and Partnerships - Acquired a 60% interest in Humana, Inc.'s hospice and personal care divisions (Kindred at Home) for $2.8 billion in 2022 - Purchased the remaining common stock of Cornerstone Building Brands in 2022 - Agreed to buyout Focus Financial Partners in a deal worth over $7 billion in 2023 - Completed fundraising for Clayton Dubilier & Rice Fund X LP with $10 billion of investor commitments in 2017 - Acquired a 60% stake of Capco from FIS for $477 million in 2017

Name Changes, Valuations, and Impact - John Deere Landscapes changed its name to SiteOne Landscape Supply - HD Supply Waterworks changed its name to Core Main - Ply Gem Holdings, Inc. was acquired by CD&R - Clayton, Dubilier & Rice acquired majority interest in American Greetings - SmileDirectClub received a $3.2 billion valuation - CD&R closed its 10th fund at $10 billion - CD&R was listed as one of the 50 best private equity firms for entrepreneurs - CD&R won a £7 billion auction for Morrisons supermarket - CD&R's impact on the US economy and specific industries