Debevoise & Plimpton LLP is advising Clayton, Dubilier & Rice, a private investment firm, on the $2.5 billion acquisition of HD Supply’s Waterworks Division, the largest distributor of waterworks products in the U.S. Debevoise is also advising on the financing aspects of the transaction.

 

Through a carve-out transaction, Waterworks will become an independent company, wholly-owned by CD&R funds. The transaction is expected to close in HD Supply's third quarter of fiscal 2017, subject to customary regulatory approvals.

 

The Debevoise team is led by partners Uri Herzberg and Kevin A. Rinker and includes partners Paul S. Bird, David A. Brittenham, Peter A. Furci, Jonathan F. Lewis, Paul M. Rodel and Scott B. Selinger, counsel Stuart Hammer, Erich O. Grosz and Serhat T. Krause, and associates Elizabeth E. Burke, Sydney A. Egnasko, Kevin R. Grondahl, Douglas M. Hirn, Tigist Kassahun, Adam M. Namm, Marina Capeto Novello, Brett M. Novick, Jonathan Raz and John Rothert.

 

Debevoise & Plimpton LLP is a premier law firm with market-leading practices, a global perspective and strong New York roots. We deliver effective solutions to our clients’ most important legal challenges, applying clear commercial judgment and a distinctively collaborative approach.