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Amrep, Inc., a wholly owned subsidiary of Zep Inc. (NYSE: ZEP), Atlanta, GA, has agreed to acquire Waterbury Companies, Inc., a manufacturer of air care delivery systems, for $66 million.
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The acquisition provides additional avenues for growth into the distributor and retail channels and is expected to strengthen Amrep's position in air care delivery systems and products for the facility maintenance markets.
"Building on the success of the Amrep acquisition, this transaction represents another important step in our strategy to expand our access to market through distributors and specialty retailers," said John K. Morgan, president and CEO of Zep Inc.
Zep is a manufacturer and service provider of a wide range of cleaning and maintenance solutions for commercial, industrial, institutional, and consumer end-markets.