Diversey today 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%. 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.
About Diversey
Diversey has been, and always will be, a pioneer and facilitator for life. We constantly deliver revolutionary cleaning and hygiene technologies that provide total confidence to our customers across all of our global sectors. Led by Dr. Ilham Kadri, President & CEO, and headquartered in Charlotte, North Carolina, USA, Diversey employs approximately 9,000 people globally, generating net sales of approximately $2.6 billion in 2016.
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About Twister
Twister is the global leader in the disruptive diamond floor pad technology. Twister is headquartered in Söderköping, Sweden with subsidiaries in the US and in the UK. Twister was legally separated from HTC Sweden in 2017, however has run like an independent company since 2016. Twister was the first company to enter the diamond pad market and is the pioneer within this field as well as the only producer to offer a complete diamond floor care portfolio. The products’ main characteristics include superior cleaning performance, on time delivery and unbeatable low cost of operations for the customer.
For more information, visit www.twisterpad.com.