PRINT THIS PAGE CCMP to sell Safetykleen to Warburg Pincus in £565m deal30/04/2008. Source: AltAssets. 
CCMP Capital Advisors has agreed to sell industrial service provider Safetykleen Europe to Warburg Pincus in a deal that values the company at approximately £565m. The senior team at Safetykleen will roll over a 'substantial proportion' of their shareholding and will continue to lead the business going forward, according to a statement. Isleworth, England-based Safetykleen provides parts and component cleaning machines and the associated servicing for the automotive and general industrial sectors. The company operates through 71 branches and 19 satellite locations in 13 European countries and also in Brazil, China, Taiwan and Hong Kong.
JPMorgan Partners acquired a majority stake in Safetykleen in 2004 for £273.5m.
Peter Wilson, a Warburg Pincus managing director, said, 'We have known and respected Safetykleen Europe and its management team for many years. As a market-leading, high-growth business, it fits well with our investment criteria and we are delighted to be able to support the next stage of the company's continued success.'
Warburg Pincus has approximately $35bn of assets under management. The firm invests across a range of sectors in North America, Europe and Asia, including financial services, healthcare, industrial, technology, media and telecommunications, energy, consumer and retail and real estate.
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