Funds advised by Apax agree to acquire Safetykleen Europe

The transaction is subject to customary closing conditions and is expected to close in Q3 2017. Terms of the transaction were not disclosed.

Safetykleen Europe is a service provider of surface treatment and chemical application services that is headquartered in London and operates in 14 countries. It delivers customer efficient outsourcing solutions for a wide range of critical industrial processes, with an extensive range of parts cleaners, tailored chemical applications, regular scheduled services and spent chemical collections.

Says Safetykleen Europe chief Philippe Mauguy: “I personally would like to thank Warburg Pincus, who has been a great partner for Safetykleen in building our growth platform.

“We would like to welcome Apax, our new partner, with an impressive track record of working strategically with international growth businesses. Together with Apax, Safetykleen Europe will continue to grow with a focus on delivering efficient customer outsourcing solutions, addressing a wide range of surface treatment and chemical application services.”

Adds Frank Ehmer, partner at Apax Partners: “Safetykleen has a very strong reputation in parts cleaning and has seen significant growth over the past three years under the leadership of Philippe Mauguy.

“We see significant room for the business to develop further, leveraging its scale advantages in a market with substantial white space for full-service solutions. We have been following Safetykleen’s journey for several years and are delighted about the opportunity to work with management on the company’s next chapter of growth.”