Swisher Hygiene Inc (SWSH, SWI.TO) announced that it has acquired the route operations and certain other assets of CSC OPS, LLC (d/b/a Environmental Biotech), a drainline maintenance products and services company.
Environmental Biotech is a global product and service provider delivering environmentally appropriate green solutions to drainage, odor and waste water problems for business, commercial and municipal entities.
As part of the transaction, Environmental Biotech will retain its manufacturing, franchise and related support operations and become a supplier of Swisher Hygiene.
In addition, Swisher Hygiene also announced the acquisition of certain assets of Green on Whites, Inc., a South Florida-based linen services company. Green on Whites provides linen and facilities rental services to foodservice and hospitality customers in the greater Miami market.
Total consideration paid by Swisher Hygiene in connection with the acquisitions includes approximately $371,000 in cash, the assumption of certain liabilities and the issuance of a convertible promissory note which may be converted into a maximum of 77,495 shares of Swisher Hygiene common stock subject to certain restrictions, including acceptance by the Toronto Stock Exchange.
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