Earlier this year, Sealed Air Corp., Charlotte, N.C., entered into a definitive agreement to sell its Diversey Care division and the food hygiene and cleaning business within its food care division to Bain Capital Private Equity, Boston, Mass., for approximately $3.2 billion.
Diversey will now be a stand-alone 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 solutions and water and energy management.
Dr. Ilham Kadri was appointed chief executive officer of Diversey upon completion of the sale.
“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,” says Kadri. “As we work together with our formidable new ownership, our customers will be our singular focus.”
“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,” adds Ken Hanau, a managing director at Bain Capital Private Equity.