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August 27, 2012
Berrard Steps Down as Swisher Hygiene President/CEO

CHARLOTTE, N.C. — Move comes amid internal investigation focusing on company’s accounting practices

CHARLOTTE, N.C. — Steven Berrard stepped down as the president and CEO of Swisher Hygiene effective Aug. 20 but will remain a member of its board of directors, the company reports. The board appointed Thomas Byrne, executive vice president, as Swisher Hygiene’s interim president/CEO.

The leadership transition comes amid an internal audit investigation into Swisher Hygiene’s accounting practices.

“In order to facilitate completion of the 2011 audit process, and in order to better focus my energies on the strategic direction of Swisher Hygiene, I believe it is in the best interest of the company and its shareholders for me to step down as president and chief executive officer,” says Berrard. “I will miss leading the Swisher Hygiene team on a day-to-day basis, but I will continue to be involved in the ongoing strategic direction of the company as a member of the board of directors and as one of the company’s largest shareholders.”

“The growth of Swisher Hygiene over the past few years would have been impossible without the hard work and dedication of Steve Berrard, and I know I speak for the entire Swisher Hygiene team in thanking him for leading the transformation of this company,” Byrne says.

Swisher Hygiene hopes to complete its ongoing accounting review “expeditiously” and file its 2011 financial statements as soon as possible, he says.

The company has gained attention in the last two years for its acquisition of several textile services companies.

April 18, 2012
Swisher Hygiene Acquires Two More Linen Services Companies

CHARLOTTE, N.C. — Adds facilities in South Florida, Nevada

CHARLOTTE, N.C. — Swisher Hygiene reports that it has acquired certain assets of two more linen services companies: Green on Whites Inc. in South Florida and CMI LV Inc., also known as Cactus Mats, in Nevada.

Green on Whites provides linen and facilities rental services to foodservice and hospitality customers in the greater Miami market.

“Our South Florida operations have expanded considerably in the last year through acquisitions and especially organic growth, which has led us to be at near capacity at our current facility in the region,” says Steven R. Berrard, Swisher Hygiene CEO. “Through this acquisition, we have secured a larger platform which will enable us to further grow our linen services presence in South Florida.”

Swisher Hygiene paid approximately $371,000 in cash, assumed certain liabilities, and issued a promissory note equivalent to as many as 77,495 shares of common stock for Green on Whites.

Cactus Mats provides linen and facilities rental services, including the rental of floor mats, towels and mops, primarily to foodservice and retail customers in the greater Las Vegas market.

“We continue to build our full-service coverage and strong presence in the Southwestern U.S. through today’s acquisition, which will expand our linen service coverage in the major metropolitan region of Las Vegas, as well as enabling us to additionally cover the greater Phoenix market going forward,” Berrard said at the time of the Cactus Mats acquisition.

Swisher Hygiene paid an undisclosed amount of cash and issued a promissory note equivalent to as many as 71,429 shares of common stock for Cactus Mats.

March 26, 2012
Swisher Hygiene Acquires Savoy Linen Services

CHARLOTTE, N.C. — New acquisition provides linen rental and laundry services primarily to

CHARLOTTE, N.C. — Swisher Hygiene has acquired the assets and business of Savoy Linen Services, a Connecticut-based linen services company.

Started in 1924, Savoy provides linen rental and laundry services primarily to foodservice customers in the southern New England and greater metro New York City markets. Concurrent with the acquisition, Paul Vazzano, the owner of Savoy, joins Swisher Hygiene and will contribute to the continued growth of its linen services business.

“The acquisition of Savoy is a continuation of our efforts to build upon our existing presence in the linen and dust control markets and expand throughout North America,” says Steven R. Berrard, Swisher Hygiene CEO. “We will be very deliberate in making value-added acquisitions and building additional facilities in order to further expand our linen production capabilities, properly leverage our customer base and create additional cross-selling opportunities for our full-service platform.”

Total consideration paid by Swisher Hygiene included cash and a promissory note that may be converted to a maximum of 171,428 shares of Swisher Hygiene common stock.
 

October 5, 2011
Swisher Hygiene Acquires Go! Hospitality Services

CHARLOTTE, N.C. — Swisher Hygiene, a provider of essential hygiene and sanitation products and services, reports that it has acquired Go! Hospitality Services, a Georgia-based linen services company.

Go! Hospitality provides linen rental, supply and laundry services throughout the Atlanta metropolitan area and surrounding markets, primarily to customers in the food-and-beverage and hospitality industries.

Concurrent with the acquisition, the founder and president of Go! Hospitality, Michael Brosius, will join Swisher Hygiene and contribute to the continued growth of its linen services business.

“We continue to expand our presence in the linen services industry and the acquisition of Go! Hospitality is a key part of expanding our offering in the Southeast,” says Steven R. Berrard, CEO of Swisher Hygiene. “We are very pleased to be able to cross-sell a complete range of linen services to our existing customers in Georgia and the Carolinas while also being able to offer our hygiene products and services to Go! Hospitality’s growing customer base.”

Total consideration paid by Swisher Hygiene in connection with the acquisition includes $2.85 million in cash, the assumption of certain liabilities, the issuance of 170,940 shares of Swisher Hygiene common stock, and a promissory note that may be converted into common stock.