Zep’s Stockholders Approve Merger with New Mountain Capital

Atlanta based Zep announced that its stockholders approved the previously announced merger with an affiliate of New Mountain Capital, L.L.C. at its special meeting of stockholders held on June 25th. Based on the tabulation of the stockholder vote, approximately 99.30% of the total votes cast, which represents approximately 80.66% of the total shares outstanding as of the May 22, 2015 record date for the special meeting, were voted in favor of the merger. Under the terms of the Merger Agreement, Zep’s stockholders will receive $20.05 in cash per share at the closing of the transaction. Zep’s stockholders also approved, on an advisory (non-binding) basis, the compensation that will or may become payable to Zep’s named executive officers in connection with the merger. Founded in 1937, some of Zep Inc.’s brands have been in existence since 1896. Zep Inc. New Mountain Capital is a New York-based private equity firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, public equity, and credit funds with over $15 billion in aggregate capital commitments. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies.

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