Diversey Strengthens Presence in Europe with Accretive Acquisition of Shorrock Trichem
January 24 2022 - 7:00AM
Diversey Holdings, Ltd. (NASDAQ: DSEY), a leading provider of
hygiene, infection prevention and cleaning solutions, today
announced it has completed the acquisition of Shorrock Trichem, a
distributor of cleaning and hygiene solutions and services based in
Northwest England with annual revenues of more than $30 million.
“This acquisition strengthens our position in
the UK, one of our key geographies. The combination of our
businesses will allow us to offer a broader range of products,
solutions, and services to both our distributors and direct
customers. I am pleased to welcome Shorrock’s 240 experienced
colleagues to Diversey and I am proud that this great, family owned
business saw Diversey as the right home for its people and its next
phase of growth,” commented Phil Wieland, CEO of Diversey.
“We are very excited to combine forces with the
team at Diversey and believe that the values they share match
perfectly with those of Shorrock Trichem’s employee and customer
base,” says Duncan Fishwick, Co-Owner and Commercial Director at
Shorrock Trichem.
“Shorrock Trichem has a great team of
experienced people, shares our approach to excellent customer
service, and has outstanding products which complement our own
portfolio in areas such as warewashing and laundry equipment sales.
We expect to be able to reach new markets and strengthen our
combined capabilities for both new and existing customers,” says
Shane Mahoney, Diversey’s Head of UK & Ireland.
Shorrock is Diversey's 5th acquisition in the
last 13 months from a robust M&A pipeline. Having previously
announced the acquisitions of Sanechem, Avmor, Tasman Chemicals and
Birko & Chad Equipment, Diversey continues to grow scale,
infrastructure and product capability in key markets to drive
customer proposition improvements and optimize financial
returns.
About Diversey: Diversey’s
mission is to protect and care for people through leading hygiene,
infection prevention, and cleaning solutions. We develop and
deliver innovative products, services, and technologies that save
lives and protect our environment. Over the course of 95 years, the
Diversey brand has become synonymous with product quality, service,
and innovation.
For more information, visit
www.diversey.com or follow Diversey UK & Ireland on
LinkedIn, Facebook or Twitter @diverseyUKI.
Diversey Holdings, Ltd.Investor Contact: Grant
Graverir@diversey.com
Cautionary Statements Regarding
Forward-Looking Information
This press release contains forward-looking
statements that are subject to substantial risks and uncertainties.
All statements other than statements of historical fact included in
this press release, including statements regarding expected
benefits for Diversey and its clients from the acquisition of
Shorrock Trichem, including expanded customer service, broader
range of products and new market reach; additional M&A
opportunities and pipeline; and our business strategy are
forward-looking statements. You can identify forward-looking
statements by the fact that they do not relate strictly to
historical or current facts. These statements may include words
such as “anticipate”, “estimate”, “expect”, “project”, “plan”,
"potential", "predict", “intend”, “believe”, “may”, "might",
“will”, "would", “should”, “can have”, "could", "continue", and
other words and terms of similar meaning although not all
forward-looking statements contain these identifying words. All
forward-looking statements involve unknown risks, and other
important factors that may cause actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements, including: (i) our inability to
realize the benefits from the acquisition, including expanding
customer service, offering more products and reaching new markets;
(ii) our inability to effectively incorporate the acquired
businesses into our business operations; (iii) our inability
to find businesses that are consistent with our strategy and
execute further acquisitions; (iv) the continuation of the
COVID-19 pandemic, which could disrupt our operations, customer
demand, and our suppliers’ ability to support us;
(v) uncertain global economic conditions which have had and
could continue to have an adverse effect on our consolidated
financial condition and results of operations; (vi) raw
material pricing, availability and allocation by suppliers as well
as energy-related costs; (vii) failure to obtain manufacturing
components, supplies and related materials from third-parties;
(viii) competition in the markets for our products and
services and in the geographic areas in which we operate; and (ix)
the other risks described under “Risk Factors” in Diversey’s
prospectus dated March 24, 2021 filed with the Securities and
Exchange Commission in connection with our recently completed
IPO.
While we believe that our assumptions are
reasonable, we caution that it is very difficult to predict the
impact of known factors, and it is impossible for us to anticipate
all factors that could affect our actual results. All written and
oral forward-looking statements attributable to us, or persons
acting on our behalf, are expressly qualified in their entirety by
these cautionary statements as well as other cautionary statements
that are made from time to time in our other SEC filings and public
communications. You should evaluate all forward-looking statements
in the context of these risks and uncertainties.
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