In 2006, Charles Banks retired as CEO of global building materials and plumbing/HVAC distributor Wolseley plc. Banks had nearly 40 years with Wolseley and its subsidiary Ferguson. He decided to apply that vast experience elsewhere at retirement and joined the private equity firm Clayton, Dubilier & Rice, long-time investors in the distribution world. He serves as an operating partner for the firm, meaning his job is to help improve purchased companies to boost value for CD & R.

CD & R is an owner of electrical distributor Rexel and lab supply wholesaler VWR International. Both companies may be sold or up for IPOs in the coming months.

Banks recently sat down with MDM to talk about his transition from leading and building a public company to working for a ...