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Industry giants to become UK and Ireland's largest supplier of cleaning & hygiene products
Diversey and Zenith Hygiene Group have announced the completion of the transaction by Bain Capital Private Equity which will combine the two companies, creating the UK and Ireland's largest manufacturer and supplier of cleaning and hygiene products.
The combined group will create a £170m market leader with approximately 1,000 employees nationally, poised for growth across the UK & Ireland.
Completion of the deal follows on from customary anti-trust clearance by the Competitions & Markets Authority last month.
The CEO and founder of Zenith Hygiene Group, Ringo Francis, will lead the combined group in the UK & Ireland reporting to Gaetano Redaelli, president of Europe for Diversey.
Ringo, together with the Diversey leadership team led by Ilham Kadri and Bain Capital, will conduct a detailed review of the combined group. The review will focus on strengthening market position, delivering a comprehensive product and service offering for customers and identifying new opportunities outside of the UK market which can benefit from the combined group's expertise.
Based in Hertfordshire, Zenith Hygiene manufactures and distributes a wide, high-quality range of cleaning & hygiene products serving customers in the healthcare, foodservice, hospitality, leisure and facilities management, pharmaceutical and food and beverage processing industries. The company employs around 500 people across 16 locations nationally, generating net sales of £67m in the fiscal year ending February 2017.
Diversey is a global supplier of hygiene and cleaning solutions that integrates chemicals, floorcare machines, tools and equipment with a wide range of technology-based value-added services, food safety services and water and energy management. Globally, Diversey employs approximately 9,000 people and generated net sales of approximately $2.6 billion in 2016.
"This marks the start of an exciting new chapter, for the new group in the UK and Ireland," remarks Ringo Francis. "The combination of these two powerful brands will provide significant benefits for our customers and employees and opportunities for further expansion and growth in new sectors. I look forward to harnessing the strengths of both businesses to support our aspirations as supplier and employer of choice in the UK and Ireland."
Dr. Ilham Kadri says: "We are committed to becoming a customer-centric global leader in the cleaning & hygiene industry. Zenith Hygiene's customer focus will enhance our vision in the UK & Ireland. Together we are stronger and I'm excited for how we unite to exceed our customers' expectations."
Bain Capital Private Equity says that it has has a long-term ambition to create the global leader in the cleaning & hygiene industry and that the acquisition of Zenith Hygiene is one of the first steps in realising this plan.
19th April 2018