by Jbs011210 e3 — January 13, 2010—Zep Inc. announced it has acquired Atlanta, Georgia-based Amrep, Inc., for a cash purchase price of approximately $64.4 million, subject to post-closing working capital adjustments.
The addition of Amrep is expected to complement Zep Inc.’s existing capabilities while also creating a number of synergistic opportunities, such as providing immediate new avenues into the industrial and institutional distribution channel and offering access to the U.S.-based Asian OEM market.
Upon the closing of this transaction, Amrep became a wholly-owned subsidiary of Zep Inc. In accordance with Zep’s decentralized operating structure, Amrep will maintain its commercial organizations, brands and go-to-market strategies, and Amrep President Joe Seladi will remain in charge of operations. Amrep will operate as Zep Inc.’s ninth division, and will maintain its current headquarters in Marietta, Georgia.
Zep Inc. is a producer, marketer, and service provider of a wide range of cleaning and maintenance solutions for commercial, industrial, institutional, and consumer end-markets. The companys product portfolio includes anti-bacterial and industrial hand care products, cleaners, degreasers, deodorizers, disinfectants, floor finishes, sanitizers, and pest and weed control products.
Amrep is a specialty chemical formulator and manufacturer of high-performance products and professional-grade chemical products for the fleet maintenance, industrial/MRO supply, institutional supply, and motorcycle markets under the Misty, Next Dimension, Petro, and i-Chem brands as well as a number of private-labeled brands.
