Tuesday, September 7, 2010

Univar Drops IPO Plans, Gets Investment

Seattle-based Univar, a specialty chemicals distribution firm, has dropped its IPO plans, after getting an investment from private equity firm Clayton, Dubilier & Rice. The firm said last week that Clayton, Dubilier & Rice LLC had agreed to buy a 42.5 percent stake in the firm. As a result of that buy, the firm said it intends ot withdraw its registration statement for an IPO, which it originally filed in June of 2010. Univar said the investment valued the firm at approximately $4.2 billion.