10.03.11
Swisher Hygiene Inc., a provider of hygiene and sanitation products and services, today announced that it has acquired the assets and certain liabilities of L&F Sales Co., Inc. ("L&F"), an Oklahoma-based hygiene and chemicals company, The BLP Group, Inc. d/b/a Santec Services ("Santec"), a Florida-based hygiene and chemicals company and Kasper CPR, Inc. d/b/a Guardian Environmental ("Guardian"), a Missouri-based hygiene company.
L&F covers the greater Oklahoma City area and adjacent markets and Santec serves the southwest Florida coast. Both provide a complete range of specialty chemicals and service programs to the foodservice and hospitality industries, including warewashing and on-premise laundries.
Guardian serves the greater St. Louis area providing hygiene service programs to the foodservice and hospitality industries.
"We continue to actively pursue growth and tuck-in opportunities, and these acquisitions in the Great Plains and Florida markets will help us further expand our specialty chemical and hygiene coverage," said Steven R. Berrard, chief executive officer of Swisher Hygiene. "We are very pleased to provide additional avenues to cross-sell our full service offerings to potentially new and currently existing customers."
Total consideration paid for by Swisher Hygiene in connection with these acquisitions include $857,500 in cash, the assumption of certain liabilities, the issuance of 14,565 shares of Swisher Hygiene common stock and the issuance of convertible promissory notes which may be converted into a maximum of 164,375 shares of common stock subject to customary restrictions, including acceptance by the Toronto Stock Exchange.
L&F covers the greater Oklahoma City area and adjacent markets and Santec serves the southwest Florida coast. Both provide a complete range of specialty chemicals and service programs to the foodservice and hospitality industries, including warewashing and on-premise laundries.
Guardian serves the greater St. Louis area providing hygiene service programs to the foodservice and hospitality industries.
"We continue to actively pursue growth and tuck-in opportunities, and these acquisitions in the Great Plains and Florida markets will help us further expand our specialty chemical and hygiene coverage," said Steven R. Berrard, chief executive officer of Swisher Hygiene. "We are very pleased to provide additional avenues to cross-sell our full service offerings to potentially new and currently existing customers."
Total consideration paid for by Swisher Hygiene in connection with these acquisitions include $857,500 in cash, the assumption of certain liabilities, the issuance of 14,565 shares of Swisher Hygiene common stock and the issuance of convertible promissory notes which may be converted into a maximum of 164,375 shares of common stock subject to customary restrictions, including acceptance by the Toronto Stock Exchange.