Kao Acquires Washing Systems, LLC, From Gryphon Investors in the United States & Strengthens Professional-use Products Business
August 09 2018 - 8:00PM
Business Wire
Kao Corporation is pleased to announce that, through their US
subsidiary, they have completed the acquisition of Washing Systems,
LLC (hereafter, WSI; headquarters: Cincinnati, Ohio) on August 9,
2018. WSI was previously owned by San Francisco, California based
private equity firm Gryphon Investors. As a result of this
acquisition, Kao Corporation will be expanding their chemical
solution business for commercial laundry.
WSI has achieved exceptional success in the North American and
European commercial laundry market by delivering industry-leading
wash products and processes for water-based textile cleaning and
waste-water treatment to textile rental and laundry companies, and
by providing these customers best-in-class service and integrated
chemical supply systems. In addition, the Ohio-based company has a
proven track-record of environmental stewardship, and was the first
for-profit enterprise to receive the Platinum Award (the highest
award) from the Ohio Environmental Protection Agency in 2017.
Kao develops professional-use products primarily in Japan
through Kao Professional Services Company, Ltd. Kao’s mission is to
maintain people's safety, security, and comfort through supporting
innovative cleaning applications and hygiene management. With this
acquisition, Kao will promote global development of its commercial
products business.
<Outline of Washing Systems, LLC>
- Company name: Washing Systems, LLC
- Year founded: 1989
- Location: Cincinnati, Ohio, US
- Business description: Leading provider
of products and services to the commercial laundry market in North
America and Europe, with an illustrious track record of delivering
comprehensive technological innovations and best-in-class service
protocols. WSI is recognized as the industry innovation leader and
has been recognized by the EPA, OSHA, and National Pollution
Prevention Roundtable.
- Number of employees: Approximately
130
About Kao
Kao creates high-value-added products that enrich the lives of
consumers around the world. Through its portfolio of over 20
leading brands such as Jergens, John Frieda, Molton Brown, Oribe,
Attack, Bioré, Goldwell, Kanebo, Laurier, Merries and Kao is part
of the everyday lives of people in Asia, Oceania, North America and
Europe. Combined with its chemical division, which contributes to a
wide range of industries, Kao generates about 1,500 billion yen
($13.6 billion, at the rate of 110 yen to U.S. dollar) in annual
sales. Kao employs about 33,000 people worldwide and has 130 years
of history in innovation. Please visit the Kao Group website for
updated information.https://www.kao.com/global/en/
About Gryphon Investors
Based in San Francisco, Gryphon Investors
(www.gryphoninvestors.com) is a leading private equity firm focused
on profitably growing and competitively enhancing middle-market
companies in partnership with experienced management. For 23
consecutive quarters, Gryphon has been ranked in Preqin’s
prestigious quarterly PE report as one of North America’s
top-decile buyout firms based on consistency of strong investment
returns. Managing over $4 billion of equity investments and capital
since 1997, the firm has an extensive track record of leading
equity investments of $50 million to $200 million per portfolio
company with sales ranging from approximately $100 million to $500
million. Gryphon prioritizes investment opportunities where it can
form proactive partnerships with owners and executives to build
leading companies, utilizing Gryphon’s capital, specialized
professional resources, and operational expertise. Gryphon closed
its fourth private equity buyout fund, Gryphon IV, L.P., in
November 2016 at $1.1 billion, and raised a $100 million captive
mezzanine fund, Gryphon Mezzanine Partners, L.P., in August
2017.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180809005149/en/
For Kao CorporationBurson MarstellerSteve Naru,
646-369-8243Elizabeth Van Every, 646-818-0869