Overview

• BradyPLUS and Imperial Dade signed a definitive agreement on August 11 to create a larger US supplier of cleaning, sanitation, foodservice and industrial packaging products.
• FEMSA will retain approximately a 19% equity interest in the new company and secure representation on its board of directors.
• Existing investors Bain Capital Private Equity, Kelso & Company, Advent International, Warburg Pincus and the Tillis family will roll their stakes into the combined entity.
• Financial terms of the transaction were not disclosed and the deal remains subject to customary regulatory approvals in the United States.
• The announcement coincided with FEMSA’s 64.3% year-over-year drop in second-quarter net income due to foreign-exchange losses and a 0.1% dip in its share price.