{{Short description|Manufacturer of hygiene products}} {{Infobox company | name = Diversey Holdings, Ltd. | logo = Diversey logo.png | type = Subsidiary | traded_as = {{NASDAQ was|DSEY}} (2021–2023) | founded = {{Start date and age|1923|8|4}} | founder = {{ubl|August Kochs|Herbert Kochs}} | industry = {{ubl|Chemicals|Hygiene|Sanitization}} | products = Cleaning, food safety, business-to-business products and services | revenue = {{Increase}} {{US$|2.63 billion|link=yes}} (2020)<ref>{{Cite web|url=https://www.marketwatch.com/story/diversey-to-go-public-as-ipo-prices-well-below-expected-range-dropping-valuation-to-46-billion-2021-03-25|title = Diversey to go public as IPO prices well below expected range, dropping valuation to $4.6 billion}}</ref> | owner = | num_employees = 8,700 (December 31, 2021) | parent = Solenis | website = {{URL|diversey.com}} }} '''Diversey Holdings, Ltd.''' is an American provider of cleaning and hygiene products.
It serves the hospitality, healthcare, food and beverage, food service, retail, and facility management markets. It also provides chemicals, floor care machines, tools and equipment, technology-based value-added services, food safety services, and water and energy management.
They have a branch in Mumbai, India under the name Diversey India Hygiene Pvt.Ltd.<ref>Website for [https://diversey.in/ Diversey India Hygiene Pvt.Ltd.]</ref> Diversey extended its Prosumer Solutions to target a large, fragmented market of small professional users.<ref>{{Cite web |title=Professional Cleaning Products - Diversey Prosumer Solutions |url=https://www.diverseyprosumer.com/ |access-date=2022-01-27 |language=en-US}}</ref><ref>{{Cite web |title=Citron Hygiene |url=https://www.citronhygiene.co.uk/ |access-date=2022-02-02 |language=en-US}}</ref>
On July 5, 2023, Solenis announced that it had completed its acquisition of the company for $4.6 billion.<ref name="Acquisition">{{Cite web|url=https://www.solenis.com/en/resources/news-releases/2023/solenis-diversey-purchase|title= Solenis Completes Acquisition of Diversey for $4.6 Billion |work=Solenis|access-date=2022-07-17|language=en-US}}</ref>
==History== Diversey Corporation was founded in Chicago in 1923 by August and Herbert Kochs as a division of their Victor Chemical Works cleaning products company.<ref>[https://www.diversey.com/company/our-history Diversey Corporate History], Retrieved June 16, 2018.</ref> It was named after nearby Diversey Avenue and became independent in 1950. In 1978, Diversey was acquired by Molson.<ref>{{cite news | title = Diversey accepts bid | newspaper =Chicago Tribune| accessdate = 2015-01-18 | date = 1978-05-16 | url = http://archives.chicagotribune.com/1978/05/16/page/47/article/diversey-accepts-bid }}</ref> Herbert Kochs retired the next year. Molson merged into Diversey another American cleaning chemicals company, BASF Wyandotte Corporation, expanding its presence to 36 countries. In 1996, the now Northbrook, Illinois headquartered Diversey was acquired by Unilever, who merged it with Industrial Lever to form DiverseyLever based in Cincinnati, Ohio.<ref>{{Cite web | title = Unilever rids Molson of Diversey business | accessdate = 2015-01-18 | url = http://www.icis.com/resources/news/1996/01/29/11367/unilever-rids-molson-of-diversey-business/ }}</ref> It was named DiverseyLever from 1996 to 2002.
Johnson Wax Professional bought the business from Unilever in 2002, when it became known as JohnsonDiversey, Inc., while Unilever retained an interest in the DiverseyLever unit.<ref name="Clean Link">{{cite web|url=http://www.cleanlink.com/news/article/JohnsonDiversey-Inc-Changes-Name-to-Diversey-Inc--11812|title=JohnsonDiversey, Inc. Changes Name to Diversey, Inc.|publisher=Clean Link|accessdate=Oct 22, 2013|archive-date=October 29, 2013|archive-url=https://web.archive.org/web/20131029200348/http://www.cleanlink.com/news/article/JohnsonDiversey-Inc-Changes-Name-to-Diversey-Inc--11812|url-status=dead}}</ref> Johnson Wax Professional had been a subsidiary of S. C. Johnson & Son until 1999, when it was spun off.<ref name="chicagotribune01">{{cite news |title=Johnson Wax agrees to buy cleaning unit |author=Ameet Sachdev |date=November 21, 2001 |access-date=November 21, 2013 |newspaper=Chicago Tribune |url=https://www.chicagotribune.com/2001/11/21/johnson-wax-agrees-to-buy-cleaning-unit/}}</ref> In November 2009, Clayton, Dubilier & Rice acquired 46 percent of JohnsonDiversey.<ref name="bloombergCDR">{{cite web |title=Sealed Air Shareholders Diminished With 52% Premium for Diversey: Real M&A |author= Tara Lachapelle & Rita Nazareth |date=June 2, 2011 |publisher=Bloomberg |accessdate=November 21, 2013 |url=https://www.bloomberg.com/news/2011-06-02/sealed-air-shareholders-diminished-with-52-premium-for-diversey-real-m-a.html}}</ref> In March 2010, JohnsonDiversey changed its name to Diversey, Inc., with a new tagline, "for a cleaner, healthier future."<ref name="Journal Sentinel">{{cite news |author=Joe Taschler |date=Sep 27, 2010 |title=With global sales, Diversey Inc. keeps a local focus |newspaper=Milwaukee Journal Sentinel |url=http://www.jsonline.com/business/103902144.html |accessdate=Oct 22, 2013}}</ref>
In February 2011, Curt Johnson stepped down as the head of Diversey following allegations of child sexual assault.<ref name="Mount Pleasant">{{cite magazine |title=S.C. Johnson Billionaire Heir Gets 4 Months Jail, $6K Fine In Child Sex Assault Case |url=https://www.forbes.com/sites/clareoconnor/2014/06/09/s-c-johnson-billionaire-gets-4-months-jail-6k-fine-in-child-sex-assault-case/ |magazine=Forbes |accessdate=Aug 1, 2015}}</ref><ref name="Journal Times">{{cite web |author=Marci Laehr Tenuta |date=Mar 24, 2011 |title=Curtis Johnson, former Diversey chairman, charged with sexual assault |url=http://journaltimes.com/news/local/curtis-johnson-former-diversey-chairman-charged-with-sexual-assault/article_3f104f50-5647-11e0-a75a-001cc4c03286.html |accessdate=Oct 22, 2013 |publisher=Racine Journal Times}}</ref>
In June 2011, Sealed Air announced that it was purchasing Diversey Holdings for $4.3 billion (9.5x 2010 Adj. EBITDA of $452mm), and the deal was completed in October that year.<ref name="Mount Pleasant" /><ref name="New York">{{cite news|url=https://query.nytimes.com/gst/fullpage.html?res=9F00E2D7153DF931A35755C0A9679D8B63|title=$4.3 Billion Deal to Expand Packaging Firm|author=Michael J. De La Merced|newspaper=The New York Times|accessdate=Oct 22, 2013}}</ref> Diversey President and CEO Edward Lonergan continued to lead under the new Diversey Care name after the Sealed Air acquisition.<ref name="Seattle Times">{{cite news|url=http://seattletimes.com/html/businesstechnology/2015199659_apussealedairdiverseyholdings.html|title=Sealed Air to buy Diversey Holdings for $2.9B|newspaper=The Seattle Times|accessdate=Oct 22, 2013}}</ref> The Carlyle Group bought Diversey G.K., "Diversey Japan" (an indirect subsidiary of Diversey, Inc.) in November 2012.<ref name="Forbes">{{cite magazine|url=https://www.forbes.com/companies/sealed-air/|title=Sealed Air|magazine=Forbes|accessdate=Oct 22, 2013}}</ref>
During its time under Sealed Air, Diversey Care focused on a strategy of technological innovation. This included the launch of the first global range of commercial cleaning robots across the US and Europe, and a digital food safety management platform that helps organizations to achieve regulatory compliance in the food industry.<ref>{{Cite web|url=http://www.tomorrowscleaning.com/httpwww--704.html|title=Sealed Air Step Into Robotics with Intellibot Acquisition|last=www.gembiz.co.uk|first=gembiz ltd|website=www.tomorrowscleaning.com|language=en|access-date=2017-09-22}}</ref><ref>{{Cite news|url=http://www.foodqualitynews.com/Industry-news/Sealed-Air-unveils-food-safety-management-platform|title=Diversey Care makes food safety management digital|last=FoodQualityNews.com|work=FoodQualityNews.com|access-date=2017-09-22|language=en-GB}}</ref>
In March 2017, Bain Capital announced that it was purchasing the Diversey Care division of Sealed Air for $3.2 billion, with the intention of running Diversey as a standalone company.<ref>{{Cite news|url=https://www.reuters.com/article/us-sealed-air-diversey-baincapital/sealed-air-to-sell-diversey-care-to-bain-capital-for-3-2-billion-idUSKBN16Y1BK|title=Sealed Air to sell Diversey Care to Bain Capital for $3.2 billion|date= 2017-03-27|work=Reuters|access-date=2017-09-22}}</ref> In August 2017, Dr. Ilham Kadri was named as the president and CEO,<ref>{{Cite news|url=http://incleanmag.com.au/dr-ilham-kadri-named-president-ceo-diversey/|title=Dr Ilham Kadri named president and CEO of Diversey - Australasia's Cleaning Industry and Environmental Technology Magazine|date=2017-08-02|work=Australasia's Cleaning Industry and Environmental Technology Magazine|access-date=2017-09-22|language=en-US}}</ref><ref>{{Cite web|url=http://www.businesswire.com/news/home/20170801006324/en/Dr.-Ilham-Kadri-Named-President-CEO-Diversey|title=Dr. Ilham Kadri Named President and CEO of Diversey|website=www.businesswire.com|date=August 2017 |language=en|access-date=2017-09-22}}</ref> and the sale was completed in September 2017.<ref name=":0">{{Cite web |title=Diversey Becomes Standalone Company upon Completion of Its Acquisition by Bain Capital – Company Announcement - FT.com |url=https://markets.ft.com/data/announce/full?dockey=600-201709060935BIZWIRE_USPRX____BW6134-1 |access-date=2017-09-22 |website=markets.ft.com |language=en-us}}</ref>
In 2018 the company moved its headquarters to Fort Mill, South Carolina. In October 2018, it was announced that CEO Kadri resigned her position as of December 31, 2018. Diversey CFO Carlos Sagasta, along with Global President Professional Division Gaetano Redaelli, became joint deputy CEOs. On January 1, 2019, Mark Burgess took the position of CEO. On July 14, 2020, Phil Wieland took the position of CEO of Diversey. On March 25, 2021, Diversey filed for an IPO.<ref name="IPO">{{Cite web |date=2021-03-25 |title=Diversey to go public as IPO prices well below expected range, dropping valuation to $4.6 billion |url=https://www.marketwatch.com/story/diversey-to-go-public-as-ipo-prices-well-below-expected-range-dropping-valuation-to-46-billion-2021-03-25 |website=MarketWatch |language=en-US}}</ref>
In March 2023, Solenis, a Wilmington, Delaware based specialty chemical company which specializes in water-intensive industries, announced the acquisition of Diversey Holdings for $4.6 Billion, and expects the merger to be completed in the second half of 2023. Solenis plans to turn the company private, and upon completion of the transition, Diversey's ordinary shares will no longer be listed on any public market.<ref>{{cite web |title=Diversey to be Acquired by Solenis for 4.6 Billion |url=https://www.solenis.com/en/resources/news-releases/2023/solenis-diversey-agreement |website=Specialty Chemical Problem Solvers Solenis|access-date=17 March 2023}}</ref>
On July 5, 2023, Diversey Holdings became part of Solenis after its acquisition was completed.<ref name="Acquisition"/>
==References== {{reflist}}
==External links== *{{Official website|https://www.diversey.com}} {{Finance links | name = Diversey Holdings, Ltd. | symbol = DSEY | reuters = DSEY.O | bloomberg = DSEY:US | sec_cik = 1831617 | yahoo = DSEY | google = DSEY:NASDAQ }}
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{{DEFAULTSORT:Diversey Holdings}} Category:1923 establishments in Illinois Category: 1978 mergers and acquisitions Category: 1996 mergers and acquisitions Category:2011 mergers and acquisitions Category:2017 mergers and acquisitions Category:2021 initial public offerings Category:Companies formerly listed on the Nasdaq Category:2023 mergers and acquisitions Category:Companies formerly listed on the New York Stock Exchange Category:American companies established in 1923 Category:Bain Capital companies Category: Former Unilever companies Category:Chemical companies established in 1923 Category:Chemical companies of the United States Category:Fort Mill, South Carolina Category:Manufacturing companies based in South Carolina