Charlotte, N.C. — Diversey has entered into an agreement to acquire Twister Holding AB and its assets for an undisclosed amount from private equity firm Polaris. The transaction is expected to close in 2017.
Diversey is a global supplier of hygiene and cleaning solutions that integrates chemicals, floor care machines, tools and equipment with a wide range of technology-based value-added services, food safety services and water and energy management.
Twister, headquartered in Söderköping, Sweden, is the owner of Twister™, a patented system for daily floor cleaning using floor pads impregnated with billions of microscopic diamonds that clean and polish the floor mechanically. Twister™ is a completely chemical-free system that works with water only.
“Diversey is committed to being the global leader in providing floor owners with effective, innovative and sustainable solutions for cleaning and maintenance,” says Dr. Ilham Kadri, president and CEO of Diversey. “We are therefore excited to welcome the Twister team to the Diversey family because of our shared passion for this mission. Their portfolio expands our offering to our customers and positions us as the leader in providing TCO solutions for our customers globally.”
Diversey was advised by Baker McKenzie, and Polaris was advised by William Blair and Cederquist.