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Diversey announced it has entered into an agreement to acquire Twister Holding AB and its assets for an undisclosed amount from private equity firm Polaris.
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 which clean and polish the floor mechanically. Twister is a completely chemical free system that works with water only.
Diversey has acquired Twister to extend its market leadership, to strengthen its full value proposition and offer integrated solutions between chemicals, TASKI machines, robotics and tools at the lowest total cost of ownership (TCO) to their customers globally.
Dr. Ilham Kadri, President and Chief Executive Officer of Diversey, said “Diversey is committed to being the global leader in providing floor owners with effective, innovative and sustainable solutions for cleaning and maintenance. 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.”
“We are excited to join Diversey and be part of a company with its historic market leadership and ambitious growth plans,” said Robert Kreicberg, CEO of Twister Cleaning Technology AB. “We have successfully grown Twister by developing innovative and sustainable floor cleaning and maintenance technologies that dramatically reduce the cost of daily cleaning up to 50 percent. We believe that all customers will benefit from the combination of both companies’ innovations, application expertise and global reach.”
The transaction is expected to close in 2017. Diversey was advised by Baker McKenzie, and Polaris was advised by William Blair and Cederquist.