Diversey aims for $6.38 billion valuation IPO

News

Ella Jones, Deputy Editor In Chief

Date: 22.03.2021

Bain Capital-owned Diversey Holdings Ltd, which provides cleaning and hygiene products, said on Tuesday it was aiming for a valuation of up to $6.38 billion in its initial public offering in the United States.

Diversey is seeking to raise up to $970 million in its IPO from selling about 46.2 million shares priced between $18 and $21 apiece, according to the company’s filing.

Bain had acquired Diversey in 2017 from Sealed Air Corp for about $3.2 billion. The Boston-based private equity firm later acquired UK-based Zenith Hygiene Group, which was then merged with Diversey.

Diversey provides sanitation products for sectors including food and beverage, healthcare, hospitality and retail.

Citigroup, Morgan Stanley, Barclays and JP Morgan are the lead underwriters for the offering.

by Ella Jones | Linkedin

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