Method Sold To Ecover

(L-R) Method co-founder Adam Lowry, Ecover CEO Philip Malmberg, Method CEO Drew Fraser, and Method co-founder Eric Ryan.

• Private equity firm San Francisco Equity Partners has sold Method to Europe-based Ecover. The transaction is said to create the world’s largest green cleaning company, with global distribution and unmatched capabilities in green product development, innovation and manufacturing. Terms of the transaction were not disclosed.

Collectively, the firms will deliver sales of $200 million and employ around 300, according to Ecover, which said it and Method will continue as separate brands with a “shared ambition to bring as many new consumers as possible into the green cleaning and personal care market.”

There will be “a combined approach towards innovation and R&D, an aspect that both companies feel hugely passionate about as it underpins the very foundations of their brands,” according to Ecover.

“With the acquisition of Method, we are acquiring much more than just a brand,” said Ecover CEO Philip Malmberg. “This is the start of a fantastic, long-term partnership with a company that has a track record for innovation, an unwavering commitment to green products and a professional team with a real passion for what they do. The merger of these two businesses provides us with a strategic position in the US market—the largest and fastest growing market in the green cleaning category—and Method with a European partner with an unrivalled heritage, robust environmental credentials and ecological manufacturing facilities.”

Method was ranked No. 49 in Happi’s 2012 Top 50 Report, with estimated sales of $112 million. Eric Ryan and Adam Lowry founded the firm in 2000.

“This transition marks a new chapter in the evolution of our business,” said Ryan.