Duisburg, 31 July 2019. Franz Haniel & Cie. GmbH (Haniel) today acquired all minority interests in CWS held by Rentokil Initial plc (RI). In December 2016, Haniel and RI signed an agreement to form a joint venture, which was implemented in June 2017 with the sale of the Initial activities to Haniel. In accordance with the agreement, RI received a 17.8 per cent interest in CWS in this transaction as part of the purchase price.
By acquiring this 17.8 per cent, Haniel has obtained full strategic freedom to act. This will increase flexibility and speed in business decisions, for example regarding buy-and-build activities within the division.
Thomas Schmidt, Haniel CEO: “The CWS employees have worked very committedly on integration over the past two years: They approached each other openly, created a successful, thriving company and established a new umbrella brand in CWS. We are certain that the CWS business model has a great future, as the rising standards for hygiene and sustainability are met by the CWS Hygiene and CWS Workwear units, which cover the entire lifecycle of products and services. We are thankful to the Rentokil Initial management and everyone involved there. The way we cooperated contributed significantly to the success of the transaction and thus to the successful repositioning of CWS.”
The transaction was closed today.
CWS sees itself as a leading provider of comprehensive system solutions. The sustainability-focused company improves cleanliness, well-being and safety with its Hygiene, Floor Care, Fire Safety, Workwear, Cleanrooms and Healthcare solution areas.
It was agreed not to disclose any further details of this transaction.
The complete press release you will find here.