Zep Inc. completes phase 1 of integration - Professional Carwashing & Detailing
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Zep Inc. completes phase 1 of integration

ATLANTA — Phase 1 included the alignment of the sales force, the completion of an independent valuation and the filing of pro-forma financial statements.

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ATLANTA — Zep Inc. has completed Phase 1 of the Zep Vehicle Care integration which began when it purchased Ecolab’s Vehicle Care division on Dec. 1 for approximately $120 million, a press release reported.

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The March 6 press release said Phase 1 included the "alignment of the sales force, the completion of an independent valuation and the filing of pro-forma financial statements."

Update: Zep and Ecolab consolidation completed

John K. Morgan, chairman, president and CEO of Zep Inc. stated in the press relase, “I’m pleased to report that the integration is on-track and we continue to expect modest EPS accretion in fiscal 2013 and $0.08-$0.10 EPS accretion in fiscal 2014. This represents the first step in combining the talents of professionals from Zep’s Sales & Service team with professionals from the recently acquired vehicle care division of Ecolab to create a vertically focused platform called Zep Vehicle Care, exclusively dedicated to driving profitable growth and serving the unique needs and opportunities of vehicle wash operators.”

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To read the entire press release, click here.

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