Description
Diversey Holdings is an American provider of cleaning and hygiene products in the hospitality, healthcare, food and beverage, food service, retail and facility management sectors. It is also involved with chemicals, floor care machines, tools and equipment, technology-based value-added services, food safety services and water and energy management.
Formerly named DiverseyLever from 1996 to 2002, and JohnsonDiversey, Inc. from 2002 to 2010, Diversey was a brand of Sealed Air Corporation, under its Diversey Care Division, from 2011 until its acquisition by Bain Capital in September 2017. Diversey is a standalone company that includes the former Diversey Care division and the food hygiene solution business that was part of the Sealed Air Food Care division. In March 2021, Diversey filed for an IPO.
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. It was named after nearby Diversey Avenue and became independent in 1950. In 1978, Diversey was acquired by Molson and Herbert Kochs retired as chairman the next year. Molson then acquired and 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 from Molson by Unilever, who merged it with Industrial Lever to form DiverseyLever based in Cincinnati, Ohio. Johnson Wax Professional bought the business from Unilever in 2002, which became known as JohnsonDiversey, Inc., while Unilever retained an interest in the DiverseyLever unit. Johnson Wax Professional had been a subsidiary of S. C. Johnson & Son until 1999, when it was spun off. In November 2009, Clayton, Dubilier & Rice acquired 46 percent of JohnsonDiversey.
In March 2010, JohnsonDiversey changed its name to Diversey, Inc., with a new tagline, “for a cleaner, healthier future.”
In February 2011, Curt Johnson stepped down as the head of Diversey following allegations of child sexual assault.
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. Diversey President and CEO Edward Lonergan continued to lead under the new Diversey Care name after the Sealed Air acquisition. The Carlyle Group bought Diversey G.K., “Diversey Japan” (an indirect subsidiary of Diversey, Inc.) in November 2012.
Riley Construction named Diversey' s headquarters a LEED-Gold Certified green building.
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.
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. In August 2017, Dr. Ilham Kadri was named as the President & CEO of the new Diversey business, and the sale was completed in September 2017.
Diversey's headquarters was in Charlotte North Carolina, and in 2018 moved to Fort Mill, South Carolina.
In October 2018 was announced that CEO Dr Ilham Kadri is resigning her position as of 31 December 2018. Diversey CFO Carlos Sagasta, along with Global President Professional Division Gaetano Redaelli, have become joint deputy CEOs. On January 1, 2019, Mark Burgess took the position of CEO. On July 14, 2020, Phil Wieland took the position as CEO of Diversey. On March 25, 2021, Diversey filed for an IPO.
They also have a branch in Mumbai, India by the name of Diversey India Hygiene Pvt.Ltd. Diversey has extended their Prosumer Solutions in India targeting the needs of large market of fragmented small professional users.
