Betco® Corporation (“Betco”), a leading manufacturer of specialty chemicals, today announced it has entered into a definitive agreement to acquire Multi-Clean®, the Minnesota-based commercial cleaning chemical manufacturer, from Minuteman® International, a member of the Hako Group. As part of the same transaction, Betco is divesting its powered equipment business to Minuteman. The transaction is expected to close on July 31.
This strategic transaction allows each company to better serve its customers by building on its category leadership and specialized expertise:
Multi-Clean’s chemical customers will be supported by a company dedicated exclusively to professional cleaning chemistry, with Betco’s broader product portfolio, research and development capabilities, and operating scale behind the Multi-Clean brands they rely on.
Betco’s powered equipment customers will be supported by a company dedicated exclusively to powered cleaning equipment, with Minuteman’s global manufacturing platform and service infrastructure behind the brands they rely on.
“Multi-Clean has built an exceptional chemical business with strong customer relationships and distinctive products in the Multi-Task family,” Brad Betz, President and CEO of Betco, said. “We’re excited to build on that legacy and expand the reach of the Multi-Clean products customers rely on. We are equally confident that Minuteman is the right partner for our powered equipment customers going forward.”
“In a consolidating marketplace, customers of both businesses benefit when companies focus on their core categories,” Jack Hill, President and CEO of Minuteman International, said. “Betco is the ideal home for Multi-Clean’s chemical customers, and we look forward to supporting Betco’s powered equipment customers with the quality and service they expect.”
"This transaction creates long-term value by allowing each company to focus on what it does best," said Toby Jercovich, Chief Financial Officer of Betco. "I want to thank the leadership teams at Minuteman International and Multi-Clean for their professionalism and collaborative approach throughout this process. Transactions of this complexity are built on trust, transparency and a shared focus on achieving the best outcome for our customers, team members and business partners. We also extend our sincere appreciation to our advisors who helped bring this transaction to a successful conclusion."
Both companies have developed detailed transition plans designed to support continuity of supply and service throughout the transition. For Multi-Clean’s chemical customers, bridge inventory will help ensure a seamless transition as production moves to Betco facilities. For Betco’s powered equipment customers, warranty coverage, service, parts availability, and dealer relationships will continue seamlessly under Minuteman.
Stay Informed: Take Clean Further with Betco
Subscribe to Betco emails to join thousands of other industry professionals and get the most helpful blog posts, the latest news, new product notifications, and invitations to our events conveniently in your inbox!
Yes, Sign Me Up!