Clayton, Dubilier & Rice Names Fred Festa, Former W. R. Grace Chairman and CEO, as an Operating Advisor

News provided by

Sep 09, 2020, 08:30 ET

NEW YORK, Sept. 9, 2020 /PRNewswire/ -- Clayton, Dubilier & Rice today announced that Alfred (Fred) Festa, former Chairman and Chief Executive Officer of W. R. Grace & Company, has been engaged as an Operating Advisor to CD&R's funds.

Mr. Festa has a demonstrated record of success in senior corporate leadership positions. He joined Grace as President and Chief Operating Officer in 2003 and went on to serve as Chief Executive Officer from 2005 until 2018 and Chairman until 2019. He is credited with leading the W.R. Grace's operational turnaround, including repositioning the company's business portfolio by spinning off its construction chemicals and packaging operations and integrating 27 acquisitions, expanding into emerging markets, and pursuing significant organic growth initiatives.

"Fred's deep experience and relationships in the chemical and broader industrial markets and track record of driving growth and operational excellence align well with CD&R's investment strategy and focus," said Nate Sleeper, CD&R's Chief Executive Officer. "Many of us have had the pleasure of getting to know Fred over the last year and recognize him as an exceptionally talented leader who will be a great asset to our funds as we continue to expand our capabilities within the industrial sector."

"CD&R has a long history of investing in the chemical industry, and we believe Fred's capabilities and network will allow us to continue to build on our track record of success in this market," said Andrew Campelli, CD&R Principal. "Fred has a demonstrated ability to drive significant value creation while managing operational and financial complexity, which will be valuable to CD&R funds as we continue to emphasize creative investments in the chemical and industrial sectors."

"CD&R's reputation for partnering with management teams to build stronger companies is compelling," said Mr. Festa. "I look forward to contributing to CD&R funds' investment efforts by leveraging my broad industrial experience, particularly in the chemicals sector, and working with the team to make the companies in which CD&R funds invest more valuable."

Prior to joining Grace, Mr. Festa was President and CEO of ICG, Commerce Inc. Previously, he held a number of leadership roles at the AlliedSignal Corporation, including President E-business, Vice President and General Manager of Performance Fibers and Chemical Intermediaries Division, and Vice President and Business Development Polymers Division and of the Specialty Chemicals Division. Mr. Festa began his business career in Finance at GE and over a subsequent 12-year period held numerous financial positions, primarily within the Aerospace division.

Mr. Festa is a Board Member of the home construction company, NVR Inc., and earned a BS in Finance from State University of New York.

About Clayton, Dubilier & Rice

Clayton, Dubilier & Rice is a private investment firm with a strategy predicated on building stronger, more profitable businesses. Since inception, CD&R has managed the investment of more than $30 billion in 93 businesses representing a broad range of industries with an aggregate transaction value of more than $140 billion. The Firm's investments in the industrial chemicals sector have included Diversey, Solenis, and Univar. The Firm has offices in New York and London. For more information, please visit www.cdr-inc.com.

SOURCE Clayton, Dubilier & Rice