ATLANTA--(BUSINESS WIRE)-- Zep Inc. (NYSE:ZEP - News), a leading producer and marketer of a wide range of cleaning and maintenance solutions, today announced it has completed the purchase of certain assets of Nevada based Washtronics of America Inc. (“Washtronics”) a pioneer of automatic truck and fleet wash systems and products, for an undisclosed amount of cash. Washtronics, which posted 2010 sales of over $1 million, had been in bankruptcy proceedings since September 21, 2011. The acquisition was effective December 7, 2011, and is expected to be accretive to Zep, Inc. earnings during Fiscal 2012.
Washtronics will become a part of Zep Inc.’s Niagara National division. Niagara National is currently a leader in automatic truck wash systems and products, and with this transaction, extends its geographic customer access to the west coast. The addition of Washtronics brand of custom truck wash, pressure washers and maintenance chemicals also expands Zep Inc.’s overall transportation product portfolio that today consists of the Zep, EnviroEdge, Niagara, and Armor All Professional brands.
“This acquisition is another example of our strategy to expand our product portfolio and access to market by further strengthening our position in truck and fleet wash,” said John K. Morgan, Chairman, President and Chief Executive Officer of Zep Inc.
“This addition emphasizes our commitment to the truck and fleet wash segment and our desire to provide our customers with expanded, innovative product offerings,” said Ron Kirschner, Vice President and General Manager of Niagara National. “The combination of Washtronics and the Niagara National product line will further enhance Zep’s leadership position in the truck and fleet wash marketplace.”
About Zep Inc.
Zep Inc., with fiscal 2011 net sales of over $646 million, is a leading producer and marketer of a wide range of cleaning and maintenance solutions for commercial, industrial, institutional, and consumer end-markets. Zep Inc.'s product portfolio includes anti-bacterial and industrial hand care products, cleaners, degreasers, deodorizers, disinfectants, floor finishes, sanitizers, and pest and weed control products, as well as high performance products and professional grade chemical products for the automotive, fleet maintenance, industrial/MRO supply, institutional supply and motorcycle markets. We market these products and services under well recognized and established brand names, such as Zep(R), Zep Commercial(R), Zep Professional(TM), Enforcer(R), National Chemical(R), Selig(TM), Misty(R), Next Dimension(TM), Petro(R), i-Chem(R), TimeMist(R), TimeWick, MicrobeMax(TM), Country Vet(R), Konk(TM), Niagara National(TM) and a number of private labeled brands. Some of Zep's brands have been in existence since the Company's 1937 founding. Zep Inc.'s headquarters are in Atlanta, Georgia. Visit our website at www.zepinc.com.
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