W.M. Barr & Company, Inc. announced that it has acquired Microban
December 30, 2011
MEMPHIS, TN—December 30, 2011—W.M. Barr & Company, Inc. (“W. M. Barr”), a market leader in specialty cleaning products serving both consumer and industrial customers in the home improvement, household and automotive industries, today announced that it has acquired Microban International, Ltd.(“Microban”), a global leader in built-in antimicrobial product protection, engineering durable antimicrobial solutions for consumer, industrial and medical products around the world. Terms of the transaction were not disclosed.
“The acquisition of Microban is a transformational event for W.M. Barr and is consistent with our strategic direction to provide global, branded cleaning products where the care of home and property and the care of the person intersect,” said Richard Loomis, President and Chief Executive Officer of W.M. Barr. “This deal fulfills our commitment to acquire well-known brands with strong consumer franchises and strong management to which we can apply the resources of the company for rapid expansion and growth.”
W.M. Barr’s acquisition of Microban is the largest in company history and follows recent acquisitions of seven consumer and commercial businesses over the past several years to enhance and expand the company’s market reach. W.M. Barr continues to successfully execute against its strategic plan for its Industrial Products Group with the acquisition of Aegis, a leading anti-microbial company in May 2010, and now with its acquisition of Microban.
The combination of Aegis and Microban will deliver numerous synergies to stakeholders, including a seasoned management team, increased scale and market reach, solid technology capabilities, established customers, a robust business development pipeline, in-place distributors throughout the world and global registrations.
“Our transaction with W.M. Barr is an important step forward in the growth of Microban, creating new market opportunities for both companies,” said David Meyers, Chief Executive Officer of Microban International. “This is an exciting corporate development for our organization and we are looking forward to providing our partners with an even broader suite of high-quality products.” As part of this transaction, David Meyers will remain Chief Executive Officer of Microban. The headquarters for Microban International will also remain in North Carolina and will operate as an employee owned independent subsidiary under the current management team. To help finance the acquisition, W.M. Barr secured capital from BBH Capital Partners IV, L.P.1, a private equity fund sponsored by Brown Brothers Harriman & Co. “W.M. Barr’s strong market leadership and seasoned management team made this an attractive investment for our fund,” said Jeffrey Meskin, Partner and Co-Head of BBH Capital Partners. “The depth and breadth of products that W.M. Barr provides to customers is highly complementary to Microban’s suite of products. We are excited to support the company as it continues its track record of growth and innovation.”
W.M. Barr brands include well known products such as Goof Off®, Mold Armor®, Klean Strip®, DampRid® and Aegis, a leader in quaternary ammonia based antimicrobial compounds for textiles and
footwear. The company was founded in 1946 and is headquartered in Memphis, Tennessee.