Clayton Dubilier & Rice’s $6 Billion Acquisition of Multi-Color Corporation and Fort Dearborn

Debevoise & Plimpton advised Clayton Dubilier & Rice on the deal. Latham & Watkins LLP and Keating Muething & Klekamp PLL served as legal counsel to Platinum Equity.

Clayton, Dubilier & Rice completed the combination of Fort Dearborn Company and Multi-Color Corporation, creating the world’s largest prime label supplier by revenues. Terms of the transaction were not disclosed.

Clayton Dubilier & Rice (CDR) secured approximately $5.29 billion in new and rollover financing for its $6 billion acquisition of two companies, Multi-Color Corporation (MCC) and Fort Dearborn. The new financing comprised a $1.66 billion and a €500 million term loan facility, a $200 million cash flow revolving credit facility, a $500 million asset-based revolving credit facility, a $500 million senior secured notes offering and a $460 million senior unsecured notes offering. In addition, the rollover financing was comprised of $700 million of existing senior secured notes and $690 million of existing senior unsecured notes.

The newly combined company has approximately $3 billion of annual revenue, serves many of the world’s most prominent brands across end categories and is the world’s largest prime label supplier by revenues.

Clayton, Dubilier & Rice is a private investment firm with a strategy predicated on building stronger, more profitable businesses. Since inception, CD&R has managed the investment of more than $35 billion in over 100 companies with an aggregate transaction value of more than $160 billion.

MCC, established in 1916, is a leader in global label solutions supporting a number of the world’s most prominent brands including leading producers of beverage, wine & spirits, food & dairy, personal care & beauty, home care & laundry, healthcare, durables & technical and automotive & chemicals.

The Debevoise team was led by finance partner Scott Selinger (Picture) and capital markets partner Steven Slutzky and included finance partner Ryan Rafferty, counsel Zahra Sowder and associates Miju Damodar, Richard Hughes and Anna Jones and law clerks Shira Huberfeld, Alyssa Novoselac, Jordana Palgon, Kristen Scully and Hanson Yu, capital markets associates Jongmin Char and Chloe Orlando and law clerk Jacqueline de Jong.

The Latham & Watkins team was led by partners David Brown and Marc Granger, with associates Faisal Amin and Philip Doerr. Advice was also provided on tax matters by partner Matthew Dewitz, with associate Eric Kamerman; on finance matters by partners Patrick Shannon and Scott Forchheimer and counsel Christopher Cronin, with associate Melissa Fabian; on employee benefits and compensation matters by partner Matthew Conway, with associate Nikhil Kumar; on environmental matters by partner James Barrett; on intellectual property matters by counsel Kieran Dickinson, with associate Morgan Brubaker; on compliance matters by partner Eric Volkman, with associates Christopher D’Agostino and Elizabeth Annis; on antitrust matters by partners Sven Völcker and Amanda Reeves and counsel Patrick English, with associates Eva Beyer Blumental and Marine Dewaele; and on foreign direct investment matters by counsel Jana Dammann de Chapto. All lawyers are based in the firm’s Washington, D.C. office with the exception of Mr. Dewitz and Mr. Kamerman in New York, Mr. Völcker, Ms. Beyer Blumental, and Ms. Dewaele in Brussels, and Ms. Dammann de Chapto in Hamburg.

Involved fees earner: Jongmin Char – Debevoise & Plimpton; Miju Damodar – Debevoise & Plimpton; Richard Hughes – Debevoise & Plimpton; Anna Jones – Debevoise & Plimpton; Chloe Orlando – Debevoise & Plimpton; Ryan Rafferty – Debevoise & Plimpton; Scott Selinger – Debevoise & Plimpton; Steven Slutzky – Debevoise & Plimpton; Zahra Sowder – Debevoise & Plimpton; Faisal Amin – Latham & Watkins; Elizabeth Annis – Latham & Watkins; James Barrett – Latham & Watkins; Eva Beyer Blumental – Latham & Watkins; David Brown – Latham & Watkins; Morgan Brubaker – Latham & Watkins; Matthew Conway – Latham & Watkins; Christopher Cronin – Latham & Watkins; Jana Dammann de Chapto – Latham & Watkins; Marine Dewaele – Latham & Watkins; Matthew Dewitz – Latham & Watkins; Kieran Dickinson – Latham & Watkins; Philip Doerr – Latham & Watkins; Christopher D’Agostino – Latham & Watkins; Patrick English – Latham & Watkins; Melissa Frankel Fabian – Latham & Watkins; Scott Forchheimer – Latham & Watkins; Marc Granger – Latham & Watkins; Eric Kamerman – Latham & Watkins; Nikhil Kumar – Latham & Watkins; Amanda Reeves – Latham & Watkins; Patrick Shannon – Latham & Watkins; Sven Völcker – Latham & Watkins; Eric Volkman – Latham & Watkins;

Law Firms: Debevoise & Plimpton; Latham & Watkins;

Clients: Clayton Dubilier & Rice; Platinum Equity, LLC;