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BDT Capital Takes Majority Stake in Culligan International
Rosemont, IL-based Culligan International, which provides water solutions and services to consumers and businesses, is being acquired by Chicago-based BDT Capital Partners. Although deal terms weren’t disclosed, the Wall Street Journal reported a sales price of $6 billion for the majority stake.
BDT, whose portfolio includes Panera Bread and Peet’s Coffee, will acquire Culligan alongside several strategic family business owners and investors within the firm’s global network from private equity investors Advent International and Centerbridge Partners, L.P. As part of this agreement, Advent will also reinvest to acquire a minority stake in the 85-year-old business.
Scott Hasley, managing director of BDT, said his company looks forward to its long-term partnership with Culligan CEO Scott Clawson and his team, “consistent with our business model of providing patient capital to closely held businesses, while leveraging our global network of business owners and investors to support the company’s continued growth and expansion.”
- ◦Sale/Acquisition
