CHARLOTTE, N.C., May 2, 2011 (GLOBE NEWSWIRE) -- Swisher Hygiene Inc. ("Swisher Hygiene") (Nasdaq:SWSH) (TSX:SWI), a leading provider of essential hygiene and sanitation products and services, today announced that it has agreed to combine its Southwest operations with ProClean of Arizona, Inc. ("ProClean"), the leading independent hygiene and chemical provider in the Southwest. It is expected that the combination will provide even greater service and products to the commercial customers of Swisher Hygiene and ProClean.
ProClean has been in business since 1976 and serves over 4,000 commercial customers in Arizona, Southern California, Southern Nevada, New Mexico and West Texas through its more than 100 employees by offering a complete range of specialty chemicals and service programs to the foodservice and hospitality industries, including warewashing, general cleaning, laundry and housekeeping services. ProClean's plant, located at its headquarters in Phoenix, manufactures over 100 items for the hospitality industry and contains its own research and development laboratory, allowing ProClean to react quickly to the changing needs of the industry and its customers. ProClean has a strong and well-respected management team, led by President Richard Chiate and Executive Vice President/General Manager Mark LeBrun, with over a century of experience in the hygiene and chemical industry. During that time, ProClean has also developed a strong culture known as "The ProClean Way", which prioritizes honesty, integrity and a commitment to always putting the customer first.
The entire ProClean team is expected to join Swisher Hygiene upon completion of the transaction, with Mr. Chiate remaining as President of the ProClean subsidiary and Mr. LeBrun managing the combined ProClean and Swisher Hygiene chemical operations in the Southwest.
"As we continue to build up our North American hygiene and sanitation footprint, we saw an opportunity to combine forces with ProClean, the largest independent hygiene and chemical company in the Southwest, and we are very excited to have them come on board," said Steven R. Berrard, Chief Executive Officer of Swisher Hygiene. "ProClean has a solid commercial customer base and strong revenue. The newly combined operations will greatly broaden our hygiene and chemical offerings in the Southwest and Southern California regions – which includes the Phoenix, Tucson, Los Angeles, San Diego, Las Vegas, Albuquerque and El Paso markets – as well as further enhance our ability to service national accounts across North America. ProClean also brings to Swisher Hygiene a top-flight management team that has successfully grown the company in the region over the past 35 years, and we look forward to working with the entire ProClean team."
"We are excited to be joining with Swisher Hygiene to create a powerful hygiene and chemical presence in the Southwestern U.S. and Southern California," said Mr. Chiate. "I am proud of all we have accomplished in our 35 years as a standalone company, consistently growing the business over that period with our employees providing best-in-class service for our customers, and this new combination will only enhance the services we currently provide. We think our customers will be very pleased with this new venture, and they will see no disruption in current services provided as both Swisher Hygiene and ProClean are well noted for having a high-service, customer-first culture. I look forward to working closely with Steve as we build Swisher Hygiene into a major provider of essential hygiene and sanitation services."
Swisher Hygiene Acquires Sarner Enterprises, Inc.
In addition to the ProClean transaction, Swisher Hygiene today announced that it has acquired the hygiene and chemical business of Sarner Enterprises, Inc. ("Sarner"), its Redondo Beach, California franchisee.
Sarner is one of the longest operating Swisher Hygiene franchisees, with the Sarner family having been a part of the Swisher Hygiene system since 1992 and having built their business from the ground up during that time to become Swisher Hygiene's largest U.S. franchisee. Sarner's franchise territory encompasses a significant portion of Central Los Angeles County, as well as Riverside and San Bernardino Counties further inland, stretching from the Pacific Ocean to the Arizona border. From this base, Swisher Hygiene intends to introduce its full suite of product and services offerings to customers.
"We are excited to bring our Redondo Beach franchisee fully on board to further enhance our rapidly growing company-owned operations in Southern California," said Mr. Berrard. "I'd like to thank the Sarner family for their loyalty, hard work and the success they brought to Swisher Hygiene over the last 19 years. I wish Joel Sarner and his wife much happiness in retirement. Additionally, we welcome Joel's sons Jason and Danny into the Swisher Hygiene family and are confident their collective years of experience will further add to Swisher Hygiene's strength and knowledge base to help rapidly grow our business."
Total consideration to be paid by Swisher Hygiene for both transactions will include approximately US$7.8 million in cash, the assumption of certain liabilities and the issuance of 1,947,273 shares of its common stock. The agreements are subject to customary closing conditions and receipt of all necessary regulatory approvals, including approval of the Toronto Stock Exchange with respect to the shares to be issued in the transactions. Upon satisfaction of all conditions, it is expected that both transactions will be completed no later than May 15, 2011.
Cautionary Statement on Forward-Looking Information
All statements, other than statements of historical fact, contained in this news release, including any information as to the future financial or operating performance of Swisher Hygiene, constitute "forward-looking information" or "forward-looking statements" within the meaning of certain securities laws, including the provisions of the Securities Act (Ontario) and are based on the expectations, estimates and projections of management as of the date of this news release unless otherwise stated. Forward-looking statements include, but are not limited to, possible events and statements with respect to possible events. The words "plans," "expects," "is expected," "scheduled," "estimates," or "believes," or similar words or variations of such words and phrases or statements that certain actions, events or results "may," "could," "would," "might," or "will be taken," "occur," and similar expressions identify forward-looking statements.
Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Swisher Hygiene as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The estimates and assumptions of Swisher Hygiene contained in this news release, which may prove to be incorrect, include but are not limited to, the various assumptions set forth herein as well as the accuracy of management's assessment of the effects of the successful completion and integration of the acquisitions. All of these assumptions have been derived from information currently available to Swisher Hygiene including information obtained by Swisher Hygiene from third-party sources. These assumptions may prove to be incorrect in whole or in part. All of the forward-looking statements made in this news release are qualified by the above cautionary statements and those made in the "Risk Factors" section of Swisher Hygiene's Annual Report on Form 10-K filed with the Securities and Exchange Commission, available on www.sec.gov, and with Canadian securities regulators available on Swisher Hygiene's SEDAR profile at www.sedar.com, and Swisher Hygiene's other filings with the Securities and Exchange Commission and with Canadian securities regulators available on Swisher Hygiene's SEDAR profile at www.sedar.com. These factors are not intended to represent a complete list of the factors that could affect Swisher Hygiene.
The forward-looking information set forth in this news release is subject to various assumptions, risks, uncertainties and other factors that are difficult to predict and which could cause actual results to differ materially from those expressed or implied in the forward-looking information.
Swisher Hygiene disclaims any intention or obligation to update or revise any forward-looking statements, except to the extent required by applicable law.
About Swisher Hygiene Inc.
Swisher Hygiene Inc. is a NASDAQ and TSX listed company that provides essential hygiene and sanitation solutions to customers throughout much of North America and internationally through its global network of 83 company-owned operations, 5 franchises and 10 master licensees operating in countries across Europe and Asia. These essential solutions include cleaning and sanitizing chemicals, foodservice and laundry products, restroom hygiene programs and a full range of related products and services. The company's most recent program enhancement is its introduction of solid waste management services to commercial and residential customers in selected markets. Together, this broad set of offerings is designed to promote superior cleanliness and sanitation in all commercial environments from door to dumpster, enhancing the safety, satisfaction and well-being of employees and patrons. Swisher Hygiene's customers include a wide range of commercial enterprises, with a particular emphasis on the foodservice, hospitality, retail, industrial and healthcare industries.
CONTACT: Swisher Hygiene Inc. Investor Contact: Amy Simpson Phone: (704) 602-7116 Garrett Edson, ICR Phone: (203) 682-8331 Media Contact: Alecia Pulman, ICR Phone: (203) 682-8332