Top Companies Report

22. zep

July 10, 2013

Atlanta, GA

Sales: $654 million. Net income: $21.9 million for the year ended Aug. 31, 2012.

Key Personnel: John K. Morgan, chairman, president and chief executive officer; Mark R. Bachmann, executive vice president and chief financial officer; Robert P. Collins, vice president and chief administrative officer; Jeffrey L. Fleck, vice president and chief supply chain officer; Philip A. Theodore, vice president, general counsel and corporate secretary.

Major Products: Zep, Zep Commercial, Zep Professional, Enforcer, National Chemical, Selig, Misty, Next Dimension, Petro, i-Chem, TimeMist, TimeWick, MicrobeMax, Country Vet, Konk, Blue Coral, Black Magic, Rain-X, Niagara National, Washtronics, FC Forward Chemicals, Rexodan, Mykal and a number of private labeled brands.

Comments:  Sales for fiscal 2012 rose 1.2% to $654 million. There was an 8.7% increase in retail and 3.8% growth in distribution, which was offset by a 1.7% decline in sales and service. However, net income jumped nearly 26% to $21.9 million.

“We have made tremendous strides during the last two years to expand our market access through acquisitions,” said Zep president and CEO John K. Morgan. “We are now in a much stronger position to capitalize on our disciplined multi-channel and brand approach, and to better serve our customers.”

Morgan said he is confident that Zep has the right strategy, the right business model, and importantly, the right people to deliver continually improving results.

According to Morgan, an example of Zep’s performance in the past year is the significant advances made by its distribution and retail teams to expand sales through strategic customers. He explained, “We are expanding our brand and product offering with existing customers, and building programs with new distributors, to diversify our market presence in the retail channel with the increased nationwide visibility of our products.”

For example, the Zep Commercial brand went from being available in more than 4,000 locations at the start of fiscal 2011 to more than 7,000 major retail outlets in North America at the end of fiscal 2012.

In 2012, Zep expanded its European market presence with the acquisition of The Hale Group and Mykal Industries with the Forward Chemical, Rexodan, Mykal and De-Solv-It brands.

A goal for fiscal 2013 was to fortify its vehicle care sector, which Zep accomplished by acquiring Ecolab’s car care business. For the nine months, ended May 31, 2013, sales rose 5% to $507.4 million.
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