Clayton Dubilier to Sell Stake in CDW

Clayton, Dubilier & Rice Inc. plans to sell a minority stake in its electrical equipment distribution business for about $300 million, four years after buying it from Westinghouse Electric Corp. in 1994 for $340 million. CDW Holding Corp., parent company of the business formerly called Westinghouse Electric Supply, or Wesco, filed with the Securities and Exchange Commission for an initial public offering in which Clayton Dubilier will be the only seller of shares. Clayton Dubilier, a New York-based buyout firm, didn’t disclose exactly how much of CDW it will offer, although the filing said it “will retain the power to control the company’s corporate policies.” CDW is now the No. 2 electrical equipment distributor in the U.S.