sale to Ecolab Inc.
Baird served as financial advisor to Swisher on this transaction.
AboutSwisher Hygiene Inc. (the “Company”) (NASDAQ:SWSH) has completed the sale of the stock of its wholly-owned United States subsidiary Swisher International, Inc. and other assets relating to the Company's United States operations, which comprised all of the Company’s remaining operating interests, to Ecolab Inc. ("Ecolab") (NYSE:ECL) for $40.5 million in cash, subject to a $2.0 million holdback to address working capital and other adjustments.
Swisher Hygiene Inc. is a service company delivering essential hygiene and sanitizing solutions to customers in a wide range of end-markets. These solutions are typically delivered by employees on a regularly scheduled basis and involve providing customers with consumable products such as detergents, cleaning chemicals, soap and hand sanitizers, paper and specialty products. Most of these offerings are coupled with the rental and servicing of dish machines, dispensing equipment and additional services such as the cleaning of restrooms and other facilities. The Company is headquartered in Charlotte, North Carolina.
Ecolab 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. Ecolab is headquartered in St. Paul, Minnesota.
For additional information about this transaction, please contact:
- November 2015
- Swisher Hygiene Inc.
- Technology & Services
- Target Location
- North America
- Acquiror Location
- North America
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