Deals

Carlyle Sells Stake in Cleaning Products Owner PurposeBuilt at $1.6 Billion Value

PurposeBuilt is said to be valued at roughly $1.6 billion
Carlyle added eco-friendly products to company’s line-up

Green Gobbler was among the brands added by CarlyePurposeBuilt Brands

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By Kamaron Leach and Gillian Tan

February 2, 2022 at 12:00 PM UTC

This article is for subscribers only.

A group of investors led by Rock Mountain Capital and Olayan Group have acquired a 48% stake in PurposeBuilt Brands, a provider of consumer retail and commercial cleaning products, with Carlyle Group Inc. exiting its investment.

As part of the agreement, company management and existing investor TA Associates are rolling 100% of their equity to hold a 52% ownership stake. Financial terms of the deal weren’t disclosed.