Company News

Swisher Continues Buying Spree

Acquires assets of ACM, a MA-based hygiene and chemicals company.

Swisher Hygiene Inc. has acquired the assets and certain liabilities of A.C.M. Services, Inc. (ACM), a Massachusetts-based hygiene and chemicals company, and its Coyle Detergent Services (CDS) and I.N.O. Services companies.

This latest purchase follows several others, including L&F Sales, Try-Chem Services, LLC and Masterchem Services Corp. and of Evergreen Hygiene Company, all of which occurred since the beginning of September.

ACM covers the greater Boston and Southern New England region and provides a complete range of specialty chemicals and service programs to the foodservice and hospitality industries, including warewashing and on-premise laundries.

Concurrent with the acquisition, Chuck Coyle, one of the principals of ACM, will be joining Swisher Hygiene as general manager. ACM’s two founders, Charlie and Rita MacMurray, will also be assisting in the transition of day-to-day management.The entire ACM team is expected to join Swisher Hygiene, with Charlie MacMurray maintaining an advisory role with the company.

“We continue to actively pursue growth opportunities, and this acquisition in New England will help us further expand our specialty chemical and hygiene coverage,” said Steven R. Berrard, Chief Executive Officer of Swisher Hygiene. “We are very pleased to add ACM’s customer base, distributor partners and experienced employees to Swisher Hygiene and to provide additional avenues to cross-sell our full service offerings to potentially new and currently existing customers. We look forward to continuing the unparalleled service tradition that Charlie, Rita and Chuck and their employees have built in Boston and its surrounding markets.”

Swisher Hygiene’s deal for ACM was valued at $1.7 million in cash, the assumption of certain liabilities, the issuance of 66,854 shares of Swisher Hygiene common stock and the issuance of a convertible promissory note which may be converted into a maximum of 337,500 shares of common stock subject to customary restrictions, including acceptance by the Toronto Stock Exchange, the company said.

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