US-headquartered SC Johnson announced (5 February) that it had signed a binding offer to acquire UK-based Deb Group, thereby significantly expanding its presence in industrial and institutional markets.
While financial details were not revealed, Reuters’ reported last July that Goldman Sachs had been hired to sell Deb in a deal potentially worth about US$1 billion.
Deb, a global industrial company focused on hygiene and skin care systems for the industrial, commercial, healthcare and food markets, was owned by private equity firm Charterhouse. The sale could have given Charterhouse a return of 2.5 times its original investment, financial sources have suggested.
“Deb is an important platform for SC Johnson and helps expand our presence in industrial and institutional markets,” said Fisk Johnson, chairman and CEO of SC Johnson. “Deb’s market leadership, channel strengths and commitment to innovation complement our own strengths.”
‘For more than 70 years, Deb has offered skin care regimens for all types of workplace and public settings, including heavy-duty hand cleaners, foaming hand soaps, antibacterial washes, hand sanitisers and restorative hand creams,’ said the SC Johnson press statement.
‘Deb, headquartered in the United Kingdom, is a global market leader and its products are used in more than 100 countries around the world.’
SC Johnson expects the deal to be finalised in the coming months subject to completing any consultations and regulatory approvals.