CD&R Closes Hussman Buy

Clayton, Dubilier & Rice has completed its buys of Hussman International. The deal, announced in August, closed Sept. 30. Clayton Dubilier & Rice invested $195 million to acquire convertible participating preferred stock of Hussmann. They have a 60% stake in Hussman, which makes refrigerated display merchandising equipment and refrigeration systems for the retail food industry.

PRESS RELEASE

Clayton, Dubilier & Rice, LLC completed a transaction effective Friday, September 30 in which funds managed by CD&R will acquire a 60 percent ownership stake in Hussmann International, Inc., a leading manufacturer of refrigerated display merchandising equipment and refrigeration systems for the retail food industry. Ingersoll-Rand plc [NYSE:IR], a world leader in creating and sustaining safe, comfortable and efficient environments, will retain a 40 percent equity interest in the company.
With 2010 revenues of nearly $850 million, Hussmann products include refrigerated and non-refrigerated display merchandisers, refrigeration systems, evaporative condensers, heat exchange coils, beverage coolers, walk-in coolers and freezers, and other related products for a broad range of customer segments involved in food retailing. The company also provides installation, service, maintenance and aftermarket parts. Hussmann holds a leading position in North America, with long-standing relationships with 17 of the 20 largest food retailers, as well as leading positions in international markets, such as Mexico and Australia / New Zealand.
About Clayton, Dubilier & Rice, LLC
Founded in 1978, Clayton, Dubilier & Rice is a private equity firm with an investment strategy predicated on producing superior financial returns through building stronger, more profitable
businesses. Since inception, CD&R has managed the investment of over $16 billion in 51 U.S. and European businesses with an aggregate transaction value of more than $80 billion. For more information, please visit www.cdr-inc.com.
About Hussmann
Founded in 1906, Hussmann is a leader in manufacturing, selling, installing and servicing refrigerated display merchandising equipment and refrigeration systems. With approximately 3,700 employees, Hussmann is headquartered in Bridgeton, MO with manufacturing and distribution facilities in the U.S., Mexico and Australia / New Zealand. Hussmann products include refrigerated and non-refrigerated display merchandisers, refrigeration systems, evaporative condensers, heat exchange coils, beverage coolers, walk-in coolers and freezers, and other related products. Hussmann also provides installation, service, maintenance and aftermarket parts. Hussmann was acquired by Ingersoll Rand in 2000. For more information, please visit www.hussmann.com.