Ecolab reaches agreement to acquire select assets of Swisher Hygiene
Ecolab recently announced that it has reached an agreement to acquire the U.S. operations of Swisher Hygiene for approximately $40 million in cash.
ST. PAUL, MN, Aug. 13, 2015 -- Ecolab Inc., a specialist in water, hygiene and energy technologies and services, recently announced that it has reached an agreement to acquire the U.S. operations of Swisher Hygiene Inc., a provider of hygiene and sanitizing solutions for the foodservice, hospitality, retail, and healthcare markets, for approximately $40 million in cash.
Sales in 2014 for the operations included in the agreement were approximately $176 million. "This attractive transaction will expand our institutional customer base and service coverage," said Douglas M. Baker, Jr., Ecolab chairman and CEO. "The addition of Swisher Hygiene's U.S. portfolio of independent restaurants complements Ecolab's presence in national restaurant chains."
The transaction is expected to close in the fourth quarter of 2015, subject to Swisher Hygiene stockholder approval and customary closing conditions. Assuming that close date, Ecolab expects the transaction to be very modestly dilutive over the first 12 months beginning in the fourth quarter of 2015 and become accretive thereafter.
A trusted partner at more than one million customer locations, Ecolab (ECL) is the global leader in water, hygiene and energy technologies and services that protect people and vital resources. With 2014 sales of $14 billion and 47,000 associates, Ecolab delivers comprehensive solutions and on-site service to promote safe food, maintain clean environments, optimize water and energy use, and improve operational efficiencies for customers in the food, healthcare, energy, hospitality and industrial markets in more than 170 countries around the world. For more news and information, visit www.ecolab.com.
About Swisher Hygiene
Founded in 1986, Swisher Hygiene has 1,000 employees in the U.S., primarily in field sales and service, and serves approximately 30,000 businesses. Swisher Hygiene offers a range of products and services for the institutional foodservice industry, including warewashing and foodservice cleaning and sanitizing products and services. For more information, visit www.swsh.com.