Breaking News

Katy Finds Possible Buyer

March 5, 2001
/ Print / Reprints /
ShareMore
/ Text Size+
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 Those discussions have been superseded by discussions with the same potential purchaser relating to the transaction referred to above, Katy said.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.

Multimedia

Videos

Image Galleries

The 2013 Experience Convention & Trade Show

A look back in photos at the 2013 Experience Convention & Trade Show in Las Vegas.

THE MAGAZINE

ICS Cleaning Specialist Magazine

cover_image

2014 April

Take a look at the April 2014 issue with features on air movers, going green, carpet cleaning and new products & technologies.

Table Of Contents Subscribe

Social Media

Social media is a good way to regularly keep in touch and interact with current clients and reach potential ones. What social mediums do you use in your cleaning/restoration business?
View Results Poll Archive

THE ICS STORE

Get Paid! book cover
Get Paid! (ebook)
Over 30 authors – over 40 articles…from attorneys, contractors, consultants, instructors and others, both inside and outside the restoration industry. R & R, C & R and Cleanfax, opened their archives and gave us the best they had, other chapters were created just for the “Get Paid!” book and its readers. And every one of them has ideas for how to get paid what you are owed.

More Products

ICS DIRECTORY AND BUYING GUIDE

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

Click here to view

TRUCKMOUNT EQUIPMENT AND ACCESSORIES GUIDE

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

Click here to view

STAY CONNECTED

facebook_40.png twitter_40px.png youtube_40px.pngcrc logo