Bain Capital Private Equity has closed its previously announced acquisition of Diversey from Sealed Air Corp. No financial terms were disclosed. A provider of food hygiene and cleaning solutions, Diversey is now a standalone company.
CHARLOTTE, N.C. – September 6th, 2017 – Diversey, a leading hygiene and cleaning solutions company, today announced that the purchase of the business by Bain Capital Private Equity from Sealed Air Corporation (NYSE:SEE) is complete. The transaction was previously announced on March 27, 2017.
Diversey will now be a standalone company that will include the Diversey Care division of Sealed Air as well as the food hygiene solution business that was part of its Food Care division. Diversey integrates chemicals, floor care machines, tools and equipment, with a wide range of technology based value-added services, food safety services and water and energy management.
Dr. Ilham Kadri, appointed CEO of Diversey upon completion of the sale, commented: “As an independent business, we will have the ability to be smarter and more agile than ever before as we introduce enhanced technology and innovation. As we work together with our formidable new ownership, our customers will be our singular focus.”
Ken Hanau, a managing director at Bain Capital Private Equity said: “We are excited to invest in expanding Diversey’s long track record of leadership and innovation in the hygiene and cleaning solutions market to help its customers minimize their risks, be more efficient and more productive, and protect their brand integrity.”
Diversey serves customers in the hospitality, healthcare, food and beverage, food service, retail and facility management sectors. Diversey’s differentiated products, deep industry experience, unrivalled employee engagement, and evolving digital capabilities put it in a unique position to provide customers with unparalleled solutions to improve hygiene, sustainability and operating efficiency of their businesses.
About Bain Capital Private Equity
Bain Capital Private Equity (www.baincapitalprivateequity.com) has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since our founding in 1984. Our team of more than 220 investment professionals creates value for our portfolio companies through our global platform and depth of expertise in key vertical industries, including industrials, consumer/retail, financial and business services, healthcare, and technology, media and telecommunications. In addition to private equity, Bain Capital invests across asset classes including credit, public equity and venture capital, and leverages the firm’s shared platform to capture opportunities in strategic areas of focus.
Diversey is a leading hygiene and cleaning solutions company that integrates chemicals, floor care machines, tools and equipment, with a wide range of technology-based value-added services, food safety services and water and energy management. Diversey employs approximately 8,600 people globally and generated net sales of approximately $2.6 billion in 2016.