Diversey, Inc.

Diversey, Inc.
Subsidiary
Industry Chemicals, Hygiene, Sanitization
Headquarters Charlotte, North Carolina
Products Cleaning, food safety, business-to-business products and services
Revenue ~$2.6 billion
Number of employees
 8,600
Parent Bain Capital
Website diversey.com

Diversey, Inc. is a provider of cleaning and hygiene products serving customers in the hospitality, healthcare, food and beverage, food service, retail and facility management sectors. It integrates chemicals, floor care machines, tools and equipment, with a wide range of technology based value-added services, food safety services and water and energy management.

Formerly named DiverseyLever from 1996 to 2002, and JohnsonDiversey, Inc. from 2002 to 2010, Diversey was a brand of Sealed Air Corporation, under its Diversey Care Division[1][2], from 2011 until its acquisition by Bain Capital in September 2017.[3] Diversey is a standalone company that includes the former Diversey Care division and the food hygiene solution business that was part of the Sealed Air Food Care division.[3]

History

Diversey Corporation was founded in Chicago in 1923 by August and Herbert Kochs as a division of their Victor Chemical Works cleaning products company.[4] It was named after nearby Diversey Avenue and became independent in 1950. In 1978, Diversey was acquired by Molson[5] and Herbert Kochs retired as chairman the next year. Molson then acquired and merged into Diversey another American cleaning chemicals company, BASF Wyandotte Corporation, expanding its presence to 36 countries. In 1996 the now Northbrook, Illinois headquartered Diversey was acquired from Molson by Unilever, who merged it with Industrial Lever to form DiverseyLever based in Cincinnati, Ohio.[6] Johnson Wax Professional bought the business from Unilever in 2002, which became known as JohnsonDiversey, Inc., while Unilever retained an interest in the DiverseyLever unit.[7] Johnson Wax Professional had been a subsidiary of S. C. Johnson & Son until 1999, when it was spun off.[8] In November 2009, Clayton, Dubilier & Rice acquired 46 percent of JohnsonDiversey.[9]

In March 2010, JohnsonDiversey changed its name to Diversey, Inc., with a new tagline, “for a cleaner, healthier future.”[10]

In February 2011, Curt Johnson stepped down as the head of Diversey following allegations of child sexual assault.[11][12]

In June 2011, Sealed Air announced that it was purchasing Diversey Holdings for $4.3 billion (9.5x 2010 Adj. EBITDA of $452mm), and the deal was completed in October that year.[13][11] Diversey President and CEO Edward Lonergan continued to lead under the new Diversey Care name after the Sealed Air acquisition.[14] The Carlyle Group bought Diversey G.K., “Diversey Japan” (an indirect subsidiary of Diversey, Inc.) in November 2012.[15]

Riley Construction named Diversey’s headquarters a LEED-Gold Certified green building.[16]

During its time under Sealed Air, Diversey Care focused on a strategy of technological innovation. This included the launch of the first global range of commercial cleaning robots across the US and Europe, and a digital food safety management platform that helps organizations to achieve regulatory compliance in the food industry.[17][18]

In March 2017, Bain Capital announced that it was purchasing the Diversey Care division of Sealed Air for $3.2 billion, with the intention of running Diversey as a standalone company.[19] In August 2017, Dr. Ilham Kadri was named as the President & CEO of the new Diversey business[20][21], and the sale was completed in September 2017.[3]

Diversey's headquarters is in Charlotte North Carolina.[22][23]

See also

References

  1. ↑ "Form 10-K (2012)". Securities and Exchange Commission. Retrieved November 21, 2013.
  2. ↑ Michael Burke (October 16, 2013). "Sealed Air CEO sees higher profits in next three years". Racine Journal Times.
  3. 1 2 3 "Diversey Becomes Standalone Company upon Completion of Its Acquisition by Bain Capital – Company Announcement - FT.com". markets.ft.com. Retrieved 2017-09-22.
  4. ↑ Diversey Corporate History, Retrieved June 16, 2018.
  5. ↑ "Diversey accepts bid". Chicago Tribune. 1978-05-16. Retrieved 2015-01-18.
  6. ↑ "Unilever rids Molson of Diversey business". Retrieved 2015-01-18.
  7. ↑ Ameet Sachdev (November 21, 2001). "Johnson Wax agrees to buy cleaning unit". Chicago Tribune. Retrieved November 21, 2013.
  8. ↑ Tara Lachapelle & Rita Nazareth (June 2, 2011). "Sealed Air Shareholders Diminished With 52% Premium for Diversey: Real M&A". Bloomberg. Retrieved November 21, 2013.
  9. ↑ Joe Taschler (Sep 27, 2010). "With global sales, Diversey Inc. keeps a local focus". Milwaukee Journal Sentinel. Retrieved Oct 22, 2013.
  10. 1 2 "S.C. Johnson Billionaire Heir Gets 4 Months Jail, $6K Fine In Child Sex Assault Case". Forbes. Retrieved Aug 1, 2015.
  11. ↑ Marci Laehr Tenuta (Mar 24, 2011). "Curtis Johnson, former Diversey chairman, charged with sexual assault". Racine Journal Times. Retrieved Oct 22, 2013.
  12. ↑ Michael J. De La Merced. "$4.3 Billion Deal to Expand Packaging Firm". The New York Times. Retrieved Oct 22, 2013.
  13. ↑ "Sealed Air to buy Diversey Holdings for $2.9B". The Seattle Times. Retrieved Oct 22, 2013.
  14. ↑ "Sealed Air". Forbes. Retrieved Oct 22, 2013.
  15. ↑ "Diversey Inc. Global Headquarters". Riley Construction. Archived from the original on 2013-10-29. Retrieved Oct 22, 2013.
  16. ↑ www.gembiz.co.uk, gembiz ltd. "Sealed Air Step Into Robotics with Intellibot Acquisition". www.tomorrowscleaning.com. Retrieved 2017-09-22.
  17. ↑ FoodQualityNews.com. "Diversey Care makes food safety management digital". FoodQualityNews.com. Retrieved 2017-09-22.
  18. ↑ "Sealed Air to sell Diversey Care to Bain Capital for $3.2 billion". Reuters. 2017-03-27. Retrieved 2017-09-22.
  19. ↑ "Dr Ilham Kadri named president and CEO of Diversey - Australasia's Cleaning Industry and Environmental Technology Magazine". Australasia's Cleaning Industry and Environmental Technology Magazine. 2017-08-02. Retrieved 2017-09-22.
  20. ↑ "Dr. Ilham Kadri Named President and CEO of Diversey". www.businesswire.com. Retrieved 2017-09-22.
  21. ↑ Digital, MAZ (2016-06-04). "NC trend: Trash talk - Business North Carolina". Business North Carolina. Retrieved 2017-09-22.
  22. ↑ "Charlotte exec named CEO of cleaning products company". charlotteobserver. Retrieved 2017-09-22.
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