HD Supply said it entered into a definitive agreement to sell its Waterworks Business Unit to Clayton, Dubilier & Rice for a purchase price of $2.5 billion in cash. The transaction is expected to close in HD Supply's third fiscal quarter of 2017.

Joe DeAngelo, HD Supply Chairman, President & CEO said, “We determined that a sale of our Waterworks business unit to Clayton, Dubilier & Rice is in the best interests of our Waterworks associates and HD Supply stockholders.”