Cleaning & Restoration Breaking News

Katy Finds Possible Buyer

Englewood, Colo. (Reuters) -- Maintenance products maker Katy Industries Inc. said recently that it was in talks with a potential buyer of a substantial equity position in the company.

Under the terms of the deal that the company is now considering, the purchaser would buy a minority of the company's outstanding common shares at a premium to the current market price, and would also invest directly in the company by buying nonvoting convertible preferred stock.

The deal would be subject to shareholder approval and restructuring of the company's existing bank debt. Katy said that there could be no assurance that an agreement would be reached or completed.

In November, the company said it was exploring strategic options and that it was engaged in talks with one possible purchaser. Those discussions have been superseded by discussions with the same potential purchaser relating to the transaction referred to above, Katy said.

Did you enjoy this article? Click here to subscribe to i Cleaning Specialist Magazine.

You must login or register in order to post a comment.



Image Galleries

The 2014 Experience Conference and Exhibition

A look in photos at the 2014 Experience Conference and Exhibition, which was held from April 24-26 at the Embassy Suites Convention Center and Spa in Frisco, Texas.


Beginning April 21, Google will start judging websites based on their mobile friendliness. What exactly does this mean to you cleaning website? Find out in the latest edition of The Hitman Advertising Show, which will also cover tips and suggestions on getting mobile compliant.
More Podcasts

ICS Cleaning Specialist Magazine


2015 April

The April ICS issue features content on concrete polishing, green cleaning, air duct cleaning, injection sprayers and new products.

Table Of Contents Subscribe

Janitorial Work

In addition to residential and commercial carpet cleaning, do you do any janitorial work on the side?
View Results Poll Archive


The Carpet Cleaner's Book of Unlimited Success! (ebook)

Don’t worry about the recession or about your competition.  Now you can be the owner of over 400 ways for carpet cleaning professionals to make more money and get more jobs!

More Products


Director_Buyer.jpgThe premier resource and reference guide for the cleaning and restoration industries.

Click here to view


facebook_40.png twitter_40px.png youtube_40px.png


Truckmount.jpgEquipment listings and specifications from the leading industry manufacturers.

Click here to view