Toronto-based Serruya Private Equity has acquired Sani-Service from Swisher Hygiene, a publicly traded provider of hygiene services.
Sani-Service is a commercial hygiene and chemical services provider with regional operations in the Canadian provinces of Ontario, British Columbia and Alberta. The company provides cleaning services and products such as soaps and sanitizers to the foodservice, hospitality, retail, healthcare and education markets. The company is headquartered near Toronto in Markham, ON (www.sani-service.ca).
“We are excited about this opportunity to foster the growth of a great Canadian service company. We see many opportunities to grow both organically and by leveraging Sani-Service as a platform to make additional acquisitions,” said Michael Serruya, Managing Director of Serruya Private Equity.
Serruya Private Equity (SPE) invests in companies that have strong brand names and that operate in the consumer products, restaurant, hotel, and financial services sectors. SPE is headquartered in Markham, ON (www.serruyaequity.com).
The Serruya family acquired its wealth through the actions of brothers Aaron, Michael and Simon Serruya who founded the frozen yogurt chain Yogen Früz in 1986. The brothers also built Coolbrands International, a consumer packaged goods conglomerate, into the third largest frozen dessert manufacturer in North America after Unilever and Nestle.
Swisher Hygiene (NASDAQ: SWSH) is a provider of hygiene services and is headquartered in Charlotte (www.swsh.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 8-17-15