Bain Capital Private Equity is a leading private investment firm that operates around the world. The company has announced today that they have agreed on the terms of a recommended final cash offer for Zenith Hygiene Group plc. Bain has reached this agreement through their investment in Diversey.
Zenith Hygiene Group plc is a UK manufacturer of cleaning and hygiene chemicals and other related products. The company is based in Hertfordshire and offers a wide and high quality range of products that can be used to serve customers in healthcare, foodservice, hospitality and leisure and facilities management as well as pharmaceutical and food and beverage processing.
Bain Capital completed the acquisition of Diversey from Sealed Air in September 2017. Diversey is known for being a global supplier of hygiene and cleaning solutions that merges chemicals, floor care machines, tools and equipment with a wide range of technology-based value added services as well as food safety services and water and energy management.
The completion of this deal is expected to take place in the first quarter of 2018, subject to customary anti-trust clearance. Bain has received as a part of this deal 91.01% of the A shares as well as 100% of the C shares of Zenith Hygiene. The acquisition of the company will be funded with cash from Diverseyâs balance sheet.
For Zenith Hygiene, this acquisition in an exciting time and they will benefit from Bain Capitalâs global platform as well as the bold growth plans that have been put in place for Diversey. Bain Capital has expressed their intention to expand Diverseyâs geographic reach. The addition of Zenith Hygiene is a valuable first step in these expansion plans and it is thought that with the backing of Bain Capital Private Equity could help the business to create more significant scale as well as help to serve up a wider base of customers across a range of key markets around the world.