Trio To Lead VWR Buyout

Clayton Dubilier & Rice has tapped Deutsche Bank, Citibank and Bank of America to lead the financing backing its $1.65 billion acquisition of VWR International, a subsidiary of Merck KGaA.

  • 18 Feb 2004
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Clayton Dubilier & Rice has tapped Deutsche Bank, Citibank and Bank of America to lead the financing backing its $1.65 billion acquisition of VWR International, a subsidiary of Merck KGaA. Bear Stearns advised Merck, while Citi and Deutsche Bank advised CD&R.

CD&R will put in about $630 million of equity and the rest will consist of bank debt and bonds, a CD&R spokesman said. The transaction is expected to close by April. VWR reportedly was bought on a nine times EBITDA multiple, which means the total debt leverage multiple will be approximately 5.5 times. CD&R, which typically makes $300-400 million investments, is seeking co-investors for the transaction.

VWR, based in West Chester, Penn., is a distributor of scientific equipment and supplies. Approximately two-thirds of its $2.8 billion in sales were generated in the U.S. The rest came from Europe. Walter Sobon, WVR's cfo, declined comment. Merck officials could not be reached by press time.

  • 18 Feb 2004

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 3,319 10 12.84
2 Citi 2,562 6 9.92
3 Goldman Sachs 2,150 3 8.32
4 Credit Suisse 1,822 6 7.05
5 Societe Generale 1,814 4 7.02

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 22 May 2017
1 Citi 41,255.30 117 12.99%
2 Bank of America Merrill Lynch 37,631.92 109 11.85%
3 Wells Fargo Securities 32,082.26 89 10.11%
4 JPMorgan 20,969.41 64 6.60%
5 Credit Suisse 16,754.47 44 5.28%