Diversey Holdings
| File:Diversey logo.png | |
| Company type | Subsidiary |
|---|---|
| Nasdaq: DSEY (2021–2023) | |
| Industry | |
| Founded | August 4, 1923 |
| Founder |
|
| Products | Cleaning, food safety, business-to-business products and services |
| Revenue |  Template:US$ (2020) |
Number of employees | 8,700 (December 31, 2021) |
| Parent | Solenis |
| Website | diversey |
Diversey Holdings, Ltd. is a U.S.-based supplier specializing in cleaning and hygiene solutions catering to industries such as hospitality, healthcare, food and beverage, retail, and facility management. Its extensive range includes chemical products, floor care equipment, tools, technology-driven value-added services, food safety solutions, as well as water and energy management systems.
Operating on a global scale, the company maintains subsidiaries like Diversey India Hygiene Pvt. Ltd. located in Mumbai. To address the fragmented market of smaller professional users, Diversey has broadened its Prosumer Solutions segment.
On July 5, 2023, Solenis finalized the acquisition of Diversey for $4.6 billion.
History
Established in Chicago in 1923 by August and Herbert Kochs within Victor Chemical Works, Diversey gained independence in 1950. The firm was acquired by Molson in 1978 and subsequently expanded its international footprint through a merger with BASF Wyandotte Corporation. In 1996, Unilever purchased Diversey and combined it with Industrial Lever to create DiverseyLever.
Johnson Wax Professional took ownership from Unilever in 2002, renaming the enterprise JohnsonDiversey, Inc., before simplifying the name to Diversey, Inc. in 2010. In 2009, private equity firm Clayton, Dubilier & Rice secured a 46% ownership stake.
In June 2011, Sealed Air acquired Diversey Holdings for $4.3 billion (at a multiple of 9.5 times adjusted 2010 EBITDA), retaining Edward Lonergan as CEO under the Diversey Care brand. The Carlyle Group purchased Diversey Japan in 2012.
During its tenure under Sealed Air, Diversey emphasized innovation by developing commercial cleaning robotics and launching a digital platform for food safety management aimed at improving compliance with regulations.
Bain Capital acquired Diversey Care from Sealed Air for $3.2 billion in March 2017 to operate it independently. Dr. Ilham Kadri was named president and CEO in August 2017; the transaction was completed in September.
In 2018, the company moved its corporate headquarters to Fort Mill, South Carolina. After CEO Kadri stepped down at the end of that year, CFO Carlos Sagasta and Global President Gaetano Redaelli jointly assumed deputy CEO roles until Mark Burgess was appointed CEO on January 1, 2019. Phil Wieland took over as CEO on July 14, 2020.
Diversey submitted its initial public offering on March 25, 2021.
In March 2023, Wilmington-based specialty chemical firm Solenis declared plans to acquire Diversey for $4.6 billion with intentions to privatize the company and remove it from public trading after closing.
The acquisition was completed on July 5, 2023, officially integrating Diversey into Solenis.
External links
- Companies founded in Illinois in 1923
- Mergers and acquisitions in 1978
- Mergers and acquisitions in 1996
- Mergers and acquisitions in 2011
- Mergers and acquisitions in 2017
- Initial public offerings in 2021
- Former Nasdaq-listed companies
- Mergers and acquisitions in 2023
- Former New York Stock Exchange-listed companies
- American enterprises established in 1923
- Companies associated with Bain Capital
- Companies previously owned by Unilever
- Chemical industry firms founded in 1923
- United States chemical manufacturers
- Fort Mill, South Carolina location
- South Carolina-based manufacturing firms
- American companies established in 1923
- Companies of the United States by year of establishment