07.27.10
Zep’s Amrep subsidiary has signed a definitive agreement to acquire the North American operations of Waterbury Companies, Inc., a provider of air care delivery systems and products for facility maintenance. The $66 million deal is expected to close during the first fiscal quarter of 2011.
Amrep will add Waterbury’s TimeMist, TimeWick, Microbemax and Touch Less Control brands to its existing brand portfolio. The acquisition also provides Amrep with access to new specialty farm and agricultural retail channels through Waterbury's Country Vet branded products designed for insect and odor control.
Founded in 1812, Waterbury Companies, Inc. is headquartered in Waterbury, CT and operates a plant in Independence, LA.
“Building on the success of the Amrep acquisition, this transaction represents another important step in our strategy to expand our access to market through distributors and specialty retailers,” said John K. Morgan, chairman, president and CEO of Zep Inc. “Waterbury has strong brands and impressive customer relationships that, when combined with Amrep under the leadership of Joe Seladi, should accelerate our growth in these key end-markets.”
In other news, Zep Inc. selected Philip A. Theodore to serve as vice president, general counsel. He will also serve as corporate secretary.
Amrep will add Waterbury’s TimeMist, TimeWick, Microbemax and Touch Less Control brands to its existing brand portfolio. The acquisition also provides Amrep with access to new specialty farm and agricultural retail channels through Waterbury's Country Vet branded products designed for insect and odor control.
Founded in 1812, Waterbury Companies, Inc. is headquartered in Waterbury, CT and operates a plant in Independence, LA.
“Building on the success of the Amrep acquisition, this transaction represents another important step in our strategy to expand our access to market through distributors and specialty retailers,” said John K. Morgan, chairman, president and CEO of Zep Inc. “Waterbury has strong brands and impressive customer relationships that, when combined with Amrep under the leadership of Joe Seladi, should accelerate our growth in these key end-markets.”
In other news, Zep Inc. selected Philip A. Theodore to serve as vice president, general counsel. He will also serve as corporate secretary.