Gryphon Investors, a San Francisco-based private equity firm, and Hauser Private Equity announced today the sale of portfolio company Washing Systems (“WSI” or “the Company”) to Kao Corporation (“Kao”), a global leader in innovative cleaning solutions and hygiene management. Gryphon initially invested in the company in December 2015, with Hauser Private Equity as a co-investor. Financial terms of the transaction were not disclosed.
WSI is a leading provider of specialty chemicals and technical services to the North American and European textile rental market. In addition to its innovative chemicals and high-touch customer service, the Ohio-based company has a proven track record of environmental stewardship and was the first for-profit enterprise to receive the Platinum Award (the highest award) from the Ohio Environmental Protection Agency in 2017.
Hauser Private Equity board member, John Hayden, served on the Board of Directors for Washing Systems.
Bob Grady, Partner at Gryphon and Head of the firm’s Industrial Growth Group, said, “The strong collaboration between Gryphon and WSI management helped further build the Company’s track record as a high-growth company that is an industry leader in both innovation and customer service. Through this transaction with Kao, Gryphon has achieved its goal of positioning WSI and its customers for continued growth and success.”
For more information, please visit www.washingsystems.com