Westborough’s hand-wash vendor United Site up for sale for $4bn after pandemic boost



by   |  VIEW 1116

Westborough’s hand-wash vendor United Site up for sale for $4bn after pandemic boost

United Site Services Inc., the Westborough, Massachusetts-based portable hand-wash stations provider, had been mulling a potential sale of its entire unit which could value the company at a jawdropping $4 billion including debt as hand-wash station businesses appeared to be burning the candles at both ends amid a new normal pandemic-era, people familiar with the sale had unveiled late on Friday on condition of anonymity given the scale of sensitivity of the issue.

If truth is to be told, demands of portable hand-wash stations and washrooms were reportedly booming in context of a clattering wave of pandemic outbreak across the United States, leading to a Newtonian upsurge in valuation while enabling them to go through a divestiture at a much-higher tag right off the bat.

On top of that, a press agency report published late on Friday had quoted two unnamed sources familiar with the subject-matter as saying that the United Site Services Inc-owner Platinum Equity LLC, had already hired investment lenders alongside financial services providers to see through a sell-off process.

United Site Service Inc.’s valuation soar over 400%

In actuality, industry analysts suggested that the global-scale public health concern had prodded the growth of hand-sanitization stations industry head and shoulders above, while portable hand-wash vendor market could witness a growth of more than 150 per cent by 2027 compared to a pre-pandemic level.

Meanwhile, a research firm ResearchAndMarkets said in a report later last week that the industry would likely to swell up to $1.5 billion by 2027 from a figure of $919.4 billion registered in 2019. More surprisingly, the Massachusetts-based United Site Services Inc.

had been valued at just $1.15 billion when Platinum Equity had acquired the portable hand-wash stations provider back in the 2017s, data from credit rating agency Moody’s Investor Service Inc. had unfurled. Nonetheless, while being asked over the issue, Los Angeles-based United Site Services-owner Platinum Equity, backed by the American billionaire businessman Tom Gores, had declined to comment over the subject-matter.