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Dubilier & Company
Dubilier & Company was established as an independent investment vehicle after the departure of Martin Dubilier from Clayton, Dubilier & Rice, the firm he...
Dubilier & Company
Dubilier & Company was established as an independent investment vehicle after the departure of Martin Dubilier from Clayton, Dubilier & Rice, the firm he co-founded in 1978. Headquartered in Stamford, Connecticut, the firm continues a legacy of operational private equity, investing patient capital in businesses where management partnerships and long-term value creation override short-duration exit timelines. The firm's investment philosophy remains rooted in the principles Dubilier brought to the earliest wave of institutional buyouts. The firm pursues a concentrated portfolio spanning industrial manufacturing, healthcare services, and specialty media. Unlike institutional fund structures that recycle capital on five- to seven-year cycles, Dubilier & Company structures investments as evergreen commitments—often holding assets for decades. Its deployment strategy favors control buyouts, corporate divestitures, and recapitalizations of founder-led businesses. The firm targets companies with durable market positions and identifiable operational improvement levers, partnering with incumbent management teams rather than replacing them. Its capital base is understood to be principally supplied by the Dubilier family and select long-term co-investors, insulating the investment process from limited-partner redemption pressure. The firm maintains a deliberately lean team, operating without the multi-office infrastructure common to scaled private equity managers. Investment decisions are made by a small senior group, preserving speed and reducing the process drag that accompanies committee-heavy organizations. As a privately held investment firm, Dubilier & Company does not publicly report assets under management or portfolio composition, a posture consistent with its single-family investment office character even as it executes classic private equity control transactions. Dubilier & Company's structural distinction lies in its hybrid identity—a private investment firm that bridges family office patience with institutional buyout discipline. Without the fundraising cycle that governs traditional private equity firms, the investment team can hold businesses through multiple economic cycles, fund transformational acquisitions out of retained portfolio-company cash flow, and walk away from auctions where pricing exceeds intrinsic value. This indefinite-duration capital base frees the firm from selling businesses on a calendar dictated by fund documents, making it a genuine alternative for founders seeking a permanent home for their companies.
General information
Firm type
Private Equity
Year founded
1994
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Stamford
Corporate office
Stamford, CT, United States
Sector focus
Frequently asked questions
What is the relationship between Dubilier & Company and Clayton, Dubilier & Rice?
Dubilier & Company was established by Martin Dubilier after his departure from Clayton, Dubilier & Rice (CD&R), the private equity firm he co-founded in 1978 with Joseph Rice and Bill Clayton. The two entities are now completely independent, with Dubilier & Company operating as a separate private investment vehicle. CD&R went on to become one of the largest buyout firms globally, while Dubilier & Company maintained a more concentrated, family-led investment posture.
How does Dubilier & Company source investment opportunities?
The firm relies on the longstanding relationships of its senior principals, cultivated over decades in the private equity and industrial sectors. It typically sources deals through direct engagement with business owners, corporate divestiture processes, and trusted intermediary networks rather than competitive auction participation. This relationship-driven model favors situations where a seller values confidentiality and execution certainty over a full marketing process.
Does Dubilier & Company manage a traditional closed-end fund?
No. The firm operates on an evergreen capital base, primarily supplied by the Dubilier family and aligned long-term co-investors. It does not raise successive limited-partner funds with fixed investment periods, which allows the team to hold portfolio companies indefinitely and exit only when conditions warrant. This structure differentiates it from the standard private equity model that requires returning capital to LPs on a prescribed schedule.
What is the firm's posture on co-investments alongside external GPs?
Dubilier & Company generally does not participate as a passive co-investor in deals led by other private equity firms. The firm's model is built on control equity and active operational partnership with management teams. When it does partner with external capital, it typically involves select family offices and long-duration institutional investors who can match the firm's indefinite hold periods, not fund-of-funds or commitment-driven LPs.
Does Dubilier & Company pursue minority growth investments or control buyouts exclusively?
The firm primarily targets control positions where it can influence operational strategy and capital allocation. It has historically avoided minority, passive stakes, preferring outright acquisitions, corporate carve-outs, and recapitalizations that provide governance rights and the ability to drive long-term value-creation plans. Growth equity with a clear path to control could be considered, but the default posture is majority ownership.
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