Bain Capital is in the early stages of considering a sale or initial public offering of food hygiene and cleaning company Diversey Inc., according to people familiar with the matter.
The Boston-based private equity firm has held preliminary talks with potential advisers for a divestment of Diversey in the first half of 2021 that could value the company at about $6 billion, including debt, said the people, who asked to not be identified because the matter isn’t public. No final decision has been made and Bain could elect to keep the company, the people said.
A representative for Bain declined to comment, while a representative for Diversey didn’t respond to requests seeking comment.
Bain acquired Diversey from Sealed Air Corp. in 2017 for about $3.2 billion and subsequently bought U.K.-based peer Zenith Hygiene Group Plc in 2018 and merged the two businesses under the Diversey brand, according to its website.
Diversey, based in Fort Mill, South Carolina, provides hygiene and cleaning solutions to companies across the hospitality, health-care, food service, retail and facility management sectors, according to its website.
Source: Bloomberg
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