An affiliate of middle market private equity firm Truelink Capital Management acquired maintenance and cleaning manufacturer and distributor Zep from New Mountain Capital.
Terms of the transaction were not publicly disclosed.
Founded in 1937, Zep serves food and beverage, industrial, institutional and retail customers with maintenance, cleaning and sanitation products.
“During the past several years, we have successfully transformed our operations, expanded our product portfolio and invested in technology and sustainability offerings to provide superior, comprehensive solutions for our targeted customer sectors,” Zep CEO Amy Hahn said in a July 1 news release.
The deal will allow Zep to further strengthen and expand its solutions portfolio and market presence under Truelink’s stewardship, officials said.
“Amy and her team have done an exceptional job focusing the business on its core ‘right to win’ and have delivered significant innovation that is differentiated within the industry and delivers strong value to our customers,” said Ed Lonergan, Executive Chairman of Zep and Senior Advisor at New Mountain Capital.
New Mountain Capital Managing Director Harris Kealey added: “Since the initial acquisition, Zep has strategically focused on investments that leverage the strength of the Zep brand and capabilities and build on its legacy of strong product performance and exceptional service to serve new customers and markets.”
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