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  • September 2018
  • Case
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Clayton, Dubilier & Rice at 40

By: Josh Lerner, Abhijit Tagade and Terrence Shu
  • Format:Print
  • | Language:English
  • | Pages:28
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Abstract

In 2018, private equity firm Clayton, Dubilier & Rice celebrated its 40th anniversary and its 20th year under the leadership of CEO Don Gogel. In those decades, CD&R showed solid portfolio performance and generated strong returns for its investors - accomplishments attributed to its unique balance between operations and finance professionals. The firm made sure that, for every deal, it had both the finance and operations expertise to grow revenues, streamline operations, and truly turnaround distressed companies. But as CD&R entered into its fifth decade and its largest fund to date (nearly $10 billion AUM), competition, AUMs, industry "dry powder," and buyout valuations were all on the rise. Within CD&R, rapidly-evolving technologies, talent retention, and the prospect of Gogel's retirement presented additional sources of pressure. Gogel and his team had to consider whether CD&R could maintain its unique identity and continue to add value as it had in the past in the face of such circumstances.

Keywords

Finance; Succession; Buyout; Leveraged Buyout; Turnaround; Operations; Private Equity; Management Succession; Business Model; Leveraged Buyouts; Trends; Organizational Change and Adaptation

Citation

Lerner, Josh, Abhijit Tagade, and Terrence Shu. "Clayton, Dubilier & Rice at 40." Harvard Business School Case 819-055, September 2018.
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About The Author

Josh Lerner

Entrepreneurial Management
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Related Work

    • December 2018
    • Faculty Research

    Clayton, Dubilier & Rice at 40

    By: Josh Lerner and Terrence Shu
Related Work
  • Clayton, Dubilier & Rice at 40 By: Josh Lerner and Terrence Shu
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