Zep Inc.’s stockholders approve merger - Professional Carwashing & Detailing

Zep Inc.’s stockholders approve merger

ATLANTA — Zep Inc. manufactures and markets a wide range of high-performance maintenance and cleaning chemicals.

ATLANTA — At a recent meeting of stockholders, Zep Inc.’s stockholders approved the previously announced merger with an affiliate of New Mountain Capital LLC, according to a press release.

Based on the vote tabulation, about 99.3 percent of the total casted votes were in favor of the merger, stated the release.

At the closing of the transaction, subject to customary closing conditions, Zep Inc.’s stockholders will receive $20.05 in cash per share under the terms of the merger agreement, continued the release.

The compensation, which may become payable to Zep Inc.’s named executive officers in connection with the merger, was also approved by the stockholders on an advisory (nonbinding) basis, reported the release.

Zep Inc., noted the release, manufactures a wide range of high-performance maintenance and cleaning chemicals and markets its products/services under brand names including, but not limited to: Zep®, Zep Automotive® and Zep Professional®.

You can find the release here.

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