CD&R’s London office grows by one

In the wake of two significant European deals, Clayton, Dubilier & Rice has hired former Morgan Stanley Capital Partners managing director Christian Rochat.

New York-based buyout house Clayton, Dubilier & Rice (CD&R) has announced that former Morgan Stanley Capital Partners managing director Christian Rochat will join its London office as partner to focus on growing European opportunities.

Before Morgan, Rochat was a director at Schroder Ventures – now Permira – where he was responsible for European business development.

Rochat’s hire follows two significant transactions CD&R carried out in Europe in the last few months. In April, the firm completed the acquisition of VWR International, a US-based global distribution platform of laboratory supplies, from German pharmaceuticals group Merck for $1.65 billion (€1.36 billion). A month prior, CD&R agreed to sell its 84 percent stake in Jafra Cosmetics International to Germany-based household appliance and consumer products company Vorwerk. Terms of the deal were not disclosed, though a source familiar with the deal said that the sale will yield CD&R approximately five times return on capital invested, or almost $1.4 billion (€1.17 billion).

In a statement, CD&R president and chief executive officer Donald Gogel said that Rochat will help the firm continue to locate deals ‘resulting from the wave of corporate restructuring taking place in Europe.’