Sales: $680 million (estimated).
Key Personnel: Steven B. Klinsky, chief executive officer, New Mountain Capital; Edward F. Lonergan, senior advisor, New Mountain Capital; Lou Purvis, chief executive officer, Zep Inc.
Major Products: Cleaning products and insecticides for professional and consumer use. Brands include Zep, Zep Commercial, Zep Professional, TimeMist, Misty, Enforcer, Country Vet, Original Bike Spirits, Niagara National, De-Solv-It; Zep Vehicle Care—Armor All, Blue Coral, Rain X and Black Magic.
Comments: Since acquiring Zep a couple of years ago, New Mountain Capital has hacked away at employee numbers and, ultimately, morale, too. Following that $692 acquisition, NMF was expected to flip Zep, but there’s been no word that the I&I maker is on the selling block.
But things may get better for Zep as Ed Lonergan joined New Mountain earlier this year. Lonergan as more than 35 years of sales and general management experience with global consumer and b-to-b companies. He had been interim CEO at Zep when the deal with New Mountain went through. Before that, he was president and CEO of Diversey from 2006 to 2011 (when the company was sold) and prior to that, he was employed by P&G, Gillette and Chiquita Brands International.
Another key appointment is Lou Purvis who was named chief executive officer of Zep, Inc. in March. Prior to joining Zep, Purvis spent 15 years with Celanese and held a variety of global assignments across all business segments.