Private equity firm Clayton, Dubilier & Rice, LLC has agreed to acquire a 42.5 percent ownership interest in Dutch chemicals distributor Univar.

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CVC Capital Partners bought the business in 2007.

The transaction values the company at $4.2 billion. Funds advised by CVC will retain a 42.5% stake in the business. The remaining equity will be held by Univar management and other existing investors.

With revenues of $7.2 billion, Univar operates a network of 179 distribution facilities and distributes more than 11,000 products and 110,000 SKUs to over 80,000 customers in more than 100 countries.

“Univar’s business profile fits our investment focus perfectly, and we look forward to working with CVC and the Univar management team to continue to build the business,” said David H. Wasserman, a CD&R partner. “The company is a clear market leader in an industry with favorable secular trends, broad spread of risk, significant operational improvement runway and attractive geographic expansion opportunities.”