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TheStreet Open House

The Carlyle Group To Acquire Diversey Japan From Sealed Air

Stocks in this article: CG

Global alternative asset manager The Carlyle Group (“Carlyle”) and Sealed Air Corporation ("Sealed Air") entered into a definitive agreement on October 30, 2012 (U.S. time) whereby the Carlyle Group will sponsor the management buyout (MBO) of Diversey G.K. (“Diversey Japan”), which will continue to run the operation under the Diversey name. The equity for this investment will come from Carlyle Japan Partners II.

Diversey Japan is one of the major providers of cleaning, sanitation and hygiene products and solutions to institutional customers in the Japanese market. It distinguishes itself in the industry as the preeminent total solution provider in Japan, combining cleaning and sanitation products with consulting services to improve operational efficiency for its customers. Going forward, Diversey Japan will continue to strengthen its products and services to better meet its customers’ various needs. Mr. Toshiro Misumi, Executor of Diversey G.K., will assume the position of President and Chief Executive Officer upon closing and take the helm at the newly independent Diversey Japan.

Tamotsu Adachi, Managing Director of The Carlyle Group and Co-head of its Japan Buyout Group, said, “Diversey Japan has a preeminent position in Japan’s stable cleaning and sanitation market. With its competitive line-up of products and solutions as well as its strong sales network, we believe the company will continue its significant growth in the future. Diversey Japan’s competitive positioning and high growth potential, combined with its unique business model as a total solution provider, have led us to invest in its future development. We look forward to partnering with Mr. Misumi and the rest of the talented new management team and intend to provide our fullest support to Diversey Japan. Furthermore, we will endeavor as a private equity sponsor to provide support in terms of both business strategy and capital, so that Diversey Japan can achieve a new growth story for the future under the new management structure.”

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