Canadian Manufacturing

Chemical maker Zep going private in $692M sale

The cash-and-stock deal will see the industrial chemical company owned by private equity firm New Mountain Capital

April 8, 2015  by The Associated Press

NEW YORK—Commercial and industrial chemical products company Zep Inc. is being taken private in a $692 million sale including assumed debt to private equity firm New Mountain Capital.

Under the deal, Zep shareholders will receive $20.05 in cash per share, a 17.3 per cent premium over Zep’s closing price on April 7. The stock portion of the deal is worth about $462 million. The total value of the deal includes net debt being assumed by the buyer.

The deal is expected to close in the third calendar quarter of 2015.


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