Firm close to buying Drive, sources say

Thursday, August 11, 2016

PORT WASHINGTON, N.Y. – Buyout firm Clayton, Dubilier & Rice is in talks to buy Drive DeVilbiss for about $750 million, according to Reuters.

CD&R, whose previous investments have included AssuraMed, which it sold to Cardinal Health for $2.1 billion in 2013, prevailed in an auction and could strike a deal in the coming days, Reuters reported on Aug. 10. As part of the deal, top execs at Drive would join CD&R as minority investors.

Drive, which is partly owned by private equity firm Ferrer, Freeman & Co., has bulked up by making more than half a dozen acquisitions since 2011, most notably DeVilbiss Healthcare last year.

Other healthcare-related properties owned by CD&R include VWR International, which supplies products and services to medical laboratories; Envision Healthcare, which provides outsourced medical devices; and PharMEDium, which provides sterile compounding services.