Houlihan Lokey Advises Zep
Houlihan Lokey is pleased to announce that Zep Inc., a leading innovator and manufacturer of maintenance and cleaning solutions for industrial, commercial, and residential markets, has been acquired by an affiliate of Truelink Capital Management, LLC (Truelink), a Los Angeles-based middle-market private equity firm focused on long-term value creation, from New Mountain Capital, a leading growth-oriented investment firm with more than $55 billion in assets under management. Terms of the transaction were not publicly disclosed.
This deal represents another successfully closed transaction for Houlihan Lokey in the cleaning and MRO sector. The deal closed on June 30, 2025.
Founded in 1937, Zep has built a legacy of trust, performance, and innovation in the specialty chemical sector, serving customers across industries with high-performance maintenance, cleaning, and sanitation products. Zep will build upon the operational foundation and growth trajectory established under New Mountain’s ownership to further strengthen and expand its solutions portfolio and market presence under Truelink’s stewardship.
“This marks an exciting new chapter for Zep,” said Amy Hahn, Chief Executive Officer of Zep. “We are looking forward to working with the Truelink team to accelerate our strong momentum and deliver best-in-class products and services to our customers. During the past several years, we have successfully transformed our operations, expanded our product portfolio, and invested in technology and sustainability offerings to provide superior, comprehensive solutions for our targeted customer sectors. We extend our sincere gratitude to the New Mountain Capital team for its invaluable partnership and support in expanding our platform; we see even greater runway for growth ahead.”
Houlihan Lokey served as the lead financial advisor to Zep and assisted in marketing, structuring, and negotiating the transaction on its behalf.
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