Swisher Hygiene Acquires Daley International
Swisher Hygiene Inc., announced that it has acquired the majority of assets of Daley International, Ltd. The acquisition will allow Swisher Hygiene to significantly increase its internal product manufacturing capability, while also enabling the company to provide a broader array of products for additional vertical markets.
Daley is headquartered and has its main 207,000 square foot manufacturing facility in Chicago, Illinois, with satellite plants located in Denver, Colorado, Plant City, Florida and Johnstown, New York. Concurrent with the acquisition, Tim Daley will become Vice President of Manufacturing, and his brothers Patrick, Michael and Sean will continue in key management roles.
By adding the four manufacturing facilities, Swisher Hygiene will significantly increase the percentage of chemical products that it manufactures internally and secure capacity to support its future growth.
Despite the additional capacity, Swisher Hygiene intends to also maintain supply partnerships with a core group of third-party manufacturers. The acquisition will also enable Swisher Hygiene to add Daley's attractive customer base and expand its capabilities within the food processing, floorcare, supermarket sanitation, industrial and healthcare markets by allowing for the manufacturing of specialty products used by these industries.
"Due to our rapid growth, we expect the demand for chemical production will increase considerably over the next couple of years, therefore making it necessary to manufacture most of our own products in order to keep pace," said Steven R. Berrard, Chief Executive Officer of Swisher Hygiene. "In addition, the acquisition of Daley will allow us to better consolidate our raw material purchases, thereby providing significant cost savings for the company and further enabling us to provide superior products and services to our customers, as well as adding a strong customer base that we intend to further grow."
Total consideration paid by Swisher Hygiene in connection with the acquisition was approximately $5.7 million in cash.
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