Private equity firm Clayton, Dubilier & Rice agreed to acquire a stake in Socotec at $2bn valuation. The 30% stake in Socotec will be acquired from investors that include BIP Invest and Five Arrows Principal Investments, the European private equity unit of Rothschild Merchant Banking. The deal comes despite a slowdown in buyout activity in Europe as firms grapple with record-high valuations, fierce competition from rival bidders like sovereign wealth funds and wider political uncertainty, including the UK’s planned departure from the European Union.