Global alternative asset manager The Carlyle Group and Sealed Air Corporation have entered into a definitive agreement (30 October) whereby the Carlyle Group will sponsor the management buyout (MBO) of Diversey G.K. (Diversey Japan). That business will continue to run its operation under the Diversey name while equity for this investment will come from Carlyle Japan Partners II.
Diversey Japan is a major provider of cleaning, sanitation and hygiene products and solutions to institutional customers in the Japanese market.
‘Going forward, Diversey Japan will continue to strengthen its products and services to better meet its customers’ various needs,’ said the media statement.
Toshiro Misumi, executor of Diversey G.K., will assume the position of president and chief executive officer upon closing and take the helm at the newly independent Diversey Japan.
Tamotsu Adachi, managing director of The Carlyle Group and co-head of its Japan Buyout Group, said, “Diversey Japan has a preeminent position in Japan’s stable cleaning and sanitation market. With its competitive line-up of products and solutions as well as its strong sales network, we believe the company will continue its significant growth in the future.
“Diversey Japan’s competitive positioning and high growth potential, combined with its unique business model as a total solution provider, have led us to invest in its future development. We look forward to partnering with Mr Misumi and the rest of the talented new management team and intend to provide our fullest support to Diversey Japan.
“Furthermore, we will endeavor as a private equity sponsor to provide support in terms of both business strategy and capital, so that Diversey Japan can achieve a new growth story for the future under the new management structure.”
William V. Hickey, Sealed Air Chief CEO said, “We are very committed to our strategy of growing our presence in food safety and security, facility hygiene and product protection globally and this transaction allows us to focus our growth and resources in other growth areas in Asia. Diversey Japan is a leader in the Japanese market and we intend to continue our close relationship as we collaborate in areas such as product development, procurement and providing quality service to customers.”