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New Mountain Capital Announces Sale of Cleaning Solutions Provider Zep Inc. to Truelink Capital

via Business Wire

Zep Inc. (“Zep”), a leading innovator and manufacturer of maintenance and cleaning solutions for industrial, commercial, and residential markets, today announced that it has been acquired by an affiliate of Truelink Capital Management, LLC (“Truelink”), a Los Angeles-based middle market private equity firm focused on long-term value creation, from New Mountain Capital, a leading growth-oriented investment firm with more than $55 billion in assets under management. Terms of the transaction were not publicly disclosed.

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Founded in 1937, Zep has built a legacy of trust, performance, and innovation in the specialty chemical sector, serving customers across industries with high-performance maintenance, cleaning, and sanitation products. Zep will build upon the operational foundation and growth trajectory established under New Mountain’s ownership to further strengthen and expand its solutions portfolio and market presence under Truelink’s stewardship.

“This marks an exciting new chapter for Zep,” said Amy Hahn, Chief Executive Officer of Zep. “We are looking forward to working with the Truelink team to accelerate our strong momentum and deliver best-in-class products and services to our customers. During the past several years, we have successfully transformed our operations, expanded our product portfolio, and invested in technology and sustainability offerings to provide superior, comprehensive solutions for our targeted customer sectors. We extend our sincere gratitude to the New Mountain Capital team for their invaluable partnership and support in expanding our platform; we see even greater runway for growth ahead.”

“Amy and her team have done an exceptional job focusing the business on its core ‘right to win’ and have delivered significant innovation that is differentiated within the industry and delivers strong value to our customers,” said Ed Lonergan, Executive Chairman of Zep and Senior Advisor at New Mountain Capital.

“Since the initial acquisition, Zep has strategically focused on investments that leverage the strength of the Zep brand and capabilities and build on its legacy of strong product performance and exceptional service to serve new customers and markets,” said Harris Kealey, Managing Director at New Mountain Capital. “We thank Amy and her team for a successful partnership and are confident that Zep is exceptionally well-positioned for continued success in this next phase of its journey.”

“Our work with Zep is a testament to New Mountain’s approach: collaborating with management teams to build a more resilient and growth-oriented organization.” said Gandhi Bedi, Managing Director at New Mountain Capital. “We believe the company is poised to thrive in its next chapter.”

About Zep Inc.

Zep, Inc. is a leading innovator, producer, and distributor of maintenance, cleaning, and sanitation solutions for food and beverage, industrial, institutional, and retail customers. Zep possesses a large portfolio of premium solutions built over an 85-year legacy of developing effective products trusted by professionals and consumers to get the job done right the first time. For more information, visit: Zep.com.

About New Mountain Capital

New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than excessive risk, as it pursues long-term capital appreciation. The firm currently manages private equity, strategic equity, credit, and net lease real estate funds with more than $55 billion in assets under management. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information, visit: www.newmountaincapital.com.

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