McDermott Represents The Sterling Group and Construction Supply Group in a Combination Transaction with White Cap Valued at $4 Billion
Construction Supply Group and White Cap Combine to Forge Market-Leading Distributor of Concrete Accessories, Specialty Construction and Safety Products
Chicago, IL – Leading international law firm McDermott Will & Emery represented The Sterling Group, an operationally focused private equity firm, and its portfolio company, Construction Supply Group, in connection with a combination transaction with the construction and industrial business of HD Supply Holdings Inc. (NASDAQ: HDS), known as White Cap. Clayton, Dubilier & Rice, a private equity firm, acquired White Cap from HDS for cash and combined it with Sterling’s Construction Supply Group.
- Together, the Construction Supply Group and White Cap transactions are valued at approximately $4 billion.
- Clayton, Dubilier & Rice will hold a 65% ownership interest in the combined company and The Sterling Group will hold 35% ownership interest.
- McDermott Will & Emery acted as legal advisor to The Sterling Group and Construction Supply Group in connection with the transaction (as well as in connection with 16 related acquisitions over the prior 3 years).
- The McDermott team was led by Greg Metz and Mike McStay and included Eric Preston, Nora Klein, Nick Greiner, Alex Ruiz, Josh Lerner, Allison Wilkerson, Josh Samis, Eric Orsic, Jason Krieser, Margaret Cremin, Emily Mussio, Jon Dubrow, Matt Evola, Ashley McMahon, Aileen Cordero, Niraj Patel, Deepak Tamasker.
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