The 2020 Mid-Year Economic Update_long

Zep to be Acquired by New Mountain Capital

Company sales up 1.5 percent in second quarter.

New York-based private equity firm New Mountain Capital LLC has agreed to acquire maintenance and cleaning chemicals manufacturer Zep Inc. (NYSE: ZEP), Atlanta, GA, for $692 million.

John K. Morgan, president and CEO of Zep Inc. said the transaction will allow the company to "continue to deliver the high quality products and services our customers have come to expect from us as well as provide additional opportunities for our associates from future growth and business building."

Zep Inc. reported sales for the fiscal second quarter, ended Feb. 28, of $160.1 million, up 1.5 percent compared to the same period the previous year. Net income for the quarter was $162 thousand, compared to a loss of $682 thousand in the second quarter of 2014.

For the six month period ending Feb. 28, sales were $328.4 million, up 1.8 percent year-over-year. Net income for the period was $3.3 million, up 36.7 percent.

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

0

articles left

This is your last free article

Subscribe to MDM Premium today and get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.