Clayton, Dubilier & Rice (CD&R) has appointed former chairman and chief executive of former portfolio company Graphic Packaging International, David Scheible, as an operating advisor, the firm said.
CD&R originally invested $225 million in Riverwood International in March 1996 through Clayton, Dubilier & Rice Fund V, as part of a larger $2.7 billion co-investment transaction. Riverwood merged with Graphic Packaging in 2003, giving Fund V a 17.25 percent ownership of the new entity.
The firm said Graphic Packaging’s revenue increased by 79 percent, EBITDA grew by about 500 basis points and its stock price jumped 155 percent under Scheible’s leadership.
Scheible was the CEO of the company between 2007 and 2016 and chairman between 2013 and 2016. He had also been chief operating officer and executive vice president of commercial operations at the company. Earlier, he was at Avery Dennison Corporation and BF Goodrich Corporation.
“David’s skills managing strategic renewal and corporate transformation on a global scale make him a unique and valuable resource for our funds focused on industrial businesses,” CD&R chairman and CEO Don Gogel said in a statement.
According to a spokesman, CD&R’s advisors work actively with its in-house professionals to source and evaluate new transactions. They also provide strategic insights into CD&R’s portfolio companies, he said, adding that the advisors are usually engaged on a non-exclusive basis.
CD&R has managed $21 billion invested in 66 business since its founding and has offices in New York and London.