Stonebridge Associates Advises JohnsonDiversey Inc. On Divestiture of Subsidiary to Ali SpA

September 30, 2006 - CMA Dishmachines (“CMA” or the “Company”), a wholly owned subsidiary of JohnsonDiversey, Inc., manufactures and markets a full product line of dishwashers and warewashing machines to institutional and commercial customers in the foodservice industry. JohnsonDiversey acquired CMA in 1989, but has continued to operate the Company as an entirely independent entity.

Client Background

The Company sells to a worldwide customer base of full-service chemical distributors, equipment dealers and retail foodservice chains.  Established in 1975, CMA’s market leadership is due to the strength of its reputation for product quality, industry-leading training programs and dedicated customer service.

Transaction Rationale

As part of an ongoing effort to divest non-core operations, JohnsonDiversey retained Stonebridge Associates to assist with the sale of CMA.  Stonebridge had previously interacted with JohnsonDiversey in its acquisition of the Butcher Company, which was represented by Stonebridge. Based on the success of that transaction, Stonebridge was hired to assist JohnsonDiversey in its review of strategic options for CMA and ultimately negotiate, structure, and execute a divestiture transaction. 

Stonebridge Role

Stonebridge Associates managed a targeted sale process which included: valuing CMA, identifying appropriate strategic and financial buyer prospects, producing presentation materials outlining the core competencies, operations, market position and strong future prospects of the Company, soliciting acquisition proposals from interested parties, and assisting with the preparation of due diligence materials.  As exclusive financial advisor to CMA, Stonebridge successfully negotiated the sale of CMA to Ali SpA, a large, privately-held Italian manufacturer of commercial and institutional foodservice equipment.

About Stonebridge Associates, LLC

Stonebridge Associates, LLC is a FINRA-registered investment banking firm that provides creative solutions to the corporate finance needs of middle market companies. Stonebridge Associates offers an extensive and diverse base of investment banking experience in assisting middle market and emerging growth companies in mergers and acquisitions, private placements of debt and equity securities, fairness opinions, and other strategic and financial advisory assignments. Stonebridge Associates is focused on providing its clients with the highest level of professional service in achieving their desired corporate, financial, and strategic goals. The firm’s division, Stonebridge Technology Associates, specializes in raising equity capital and providing merger and acquisition advisory services to software, hardware, Internet, healthcare, and other technology product and service companies. To learn more about Stonebridge, please visit our website at www.stonebr.com.