Clayton, Dubilier & Rice (CD&R) has acquired a 46% stake in commercial cleaning company JohnsonDiversey in a $2.6bn (€1.8bn) deal that included $1.9bn in debt finance, an indication that the environment for leveraged private equity deals continues to improve.

CD&R is investing $477m in JohnsonDiversey out of its Fund VIII. As part of the deal, James Berges, a CD&R operating partner, will become chairman of JohnsonDiversey's executive committee.