MoreBURLINGTON, Wash. – Dec. 10, 2007 – II Rep-Z, Inc., better known as Microban Systems, Inc. and Unsmoke Systems, and Dri-Eaz Products, Inc. today announced that they have entered into a definitive agreement to merge operations. The merger is effective immediately.
“The strategic combination of II Rep-Z’s specialty chemical business with Dri-Eaz’ drying equipment manufacturing business creates an ideal platform for providing customers with a full range of advanced property loss reduction solutions,” said Bill Bruders, Dri-Eaz President. “The structure of this transaction, including the significant equity stake II Rep-Z shareholders are taking in Dri-Eaz and the caliber and experience of this management team, demonstrate our commitment to bring together the unique strengths of both organizations to serve the evolving needs of disaster restoration, cleaning, and facilities professionals.”
II Rep-Z’s Unsmoke and Microban Systems brands and the Dri-Eaz brand will be housed under an overarching corporate entity called Legend Brands. Cliff Zlotnik, current chairman of II Rep-Z, will participate with the Legend Brands board of directors.
“We firmly believe the synergy between Microban Systems, Unsmoke and Dri-Eaz will produce a stronger, more dynamic company for today and well into the future,” Zlotnik said. “We’re extraordinarily pleased about the merger and the opportunities it creates to capitalize on the talents of the newly combined team and provide customers with the most comprehensive line of product offerings in the industry.”
The merger will create a single resource for restoration, cleaning and facilities professionals in need of environmental control solutions. The two companies together have trained more restoration professionals than any other entity in the industry. Their combined efforts will generate new opportunities to have an even stronger educational impact. The merger will also deliver a range of important strategic and operational benefits including additional warehousing and consolidation of shipments. Dri-Eaz will continue to operate out of its headquarters in Burlington, Wash. with satellite offices in Nashville, Tenn. and Newport Pagnell, U.K., and II Rep-Z will continue operations in its current headquarters in Coraopolis, PA.
“The strategic combination of II Rep-Z’s specialty chemical business with Dri-Eaz’ drying equipment manufacturing business creates an ideal platform for providing customers with a full range of advanced property loss reduction solutions,” said Bill Bruders, Dri-Eaz President. “The structure of this transaction, including the significant equity stake II Rep-Z shareholders are taking in Dri-Eaz and the caliber and experience of this management team, demonstrate our commitment to bring together the unique strengths of both organizations to serve the evolving needs of disaster restoration, cleaning, and facilities professionals.”
II Rep-Z’s Unsmoke and Microban Systems brands and the Dri-Eaz brand will be housed under an overarching corporate entity called Legend Brands. Cliff Zlotnik, current chairman of II Rep-Z, will participate with the Legend Brands board of directors.
“We firmly believe the synergy between Microban Systems, Unsmoke and Dri-Eaz will produce a stronger, more dynamic company for today and well into the future,” Zlotnik said. “We’re extraordinarily pleased about the merger and the opportunities it creates to capitalize on the talents of the newly combined team and provide customers with the most comprehensive line of product offerings in the industry.”
The merger will create a single resource for restoration, cleaning and facilities professionals in need of environmental control solutions. The two companies together have trained more restoration professionals than any other entity in the industry. Their combined efforts will generate new opportunities to have an even stronger educational impact. The merger will also deliver a range of important strategic and operational benefits including additional warehousing and consolidation of shipments. Dri-Eaz will continue to operate out of its headquarters in Burlington, Wash. with satellite offices in Nashville, Tenn. and Newport Pagnell, U.K., and II Rep-Z will continue operations in its current headquarters in Coraopolis, PA.
