as nasdaq swsh headquarters charlotte north carolina united states key people william m. pierce ceo president william t. nanovsky cfo vp blake w. thompson coo vp products cleaning and sanitizing chemicals janitorial services revenue 217.7 million year 1 operating income 52 million year loss net income 153 million year loss number of employees 1375 website www.swisherhygiene.com swisher hygiene inc. is a sanitation company in the united states which trades on the nasdaq . originally a janitorial service company two thirds of its revenue are now generated by selling cleaning and sanitizing chemicals . 2 history edit swisher was founded by patrick swisher to provide cleaning products and services for restaurants and other businesses . in november 2004 fort lauderdale florida entrepreneurs wayne huizenga and steve berrard bought the firm for a reported 14 million . 2 huizenga and berrard paid patrick 8.1 million for more than 900 000 shares to obtain a majority stake in the company . 3 they operated swisher as a private company until november 2 2010 when swisher became publicly traded through a reverse takeover of coolbrands international inc. coolbrands was once a major frozen food and dessert manufacturer based in markham ontario . due to financial problems it had sold its core operating businesses including breyers yoghurt eskimo pie and chipwich in 2007 and was little more than an empty corporate shell but was still listed on the toronto stock exchange . swisher through the reverse takeover acquired the strength of coolbrands balance sheet and coolbrands status as a publicly traded enterprise . as a publicly traded company swisher could pay in stock or partially in stock for acquisitions of other companies . it went on an acquisition spree in 2011 purchasing 54 different businesses nominally valued at 220 million . 2 the acquisitions increased gross revenue but did not bring the company to profitability . 4 swisher had purchased fort lauderdale based choice environmental services in february 2011 for 50 million in stock and an assumption of 41.5 million in debt . 5 glenn miller and neal rodrigue the former owners of choice environmental services had become the fourth largest shareholders in swisher under a merger agreement but were restricted from selling any of their shares causing them substantial losses when the stock plummeted . 6 they later sued . the company had to re state its 2011 financial information due to accounting irregularities increasing that year s losses by 4.8 million before taxes . 2 it incurred repeated quarterly losses through much of 2012 a year for which it missed toronto stock exchange deadlines for both quarterly and annual financial reports . 7 8 at one point nasdaq had threatened to de list the stock due to reporting delays . 9 on november 15 2012 swisher sold choice environmental services to waste services of florida for 125 000 000 in cash using the money to repay debt . 5 the company s losses extended into 2012 and 2013 . 10 thomas byrne previously president of viacom and vice chairman of blockbuster video became swisher s interim president and ceo in february 2013 in an attempt to turn the company around . 2 wayne huizenga who worked with byrne at blockbuster became chairman of the board . the company s stock by mid year was trading below a dollar a share 11 and the company lost 3 share in 2013 losses which continued into 2014 . 12 on june 4 2014 a reverse stock split replaced every ten existing shares in swisher with one new share as the company had to be brought out of penny stock territory and back above 1 share to retain a nasdaq listing . 13 as of july 2014 update the stock was trading slightly above 4 share . on nov 2 2015 the company s operations were sold to ecolab for 40.2 million and the company no longer has operating assets or revenue producing operations . references edit swisher hygiene inc swsh nasdaq cm stock quote & company profile . businessweek investing . retrieved 2014 07 28 . a b c d e portillo ely 2013 08 24 . swisher hygiene hopes for a turnaround . charlotte observer . retrieved 2014 07 28 . swisher s blockbuster deal . charlotte business journal . retrieved 2014 07 28 . swisher reports loss on increased revenue . sun sentinel . 2011 11 14 . retrieved 2014 07 28 . a b marcia heroux pounds 2012 11 17 . fort lauderdale waste firm sold . sun sentinel . retrieved 2014 07 28 . marcia heroux pounds 2013 09 23 . lawsuit against huizenga swisher could move to north carolina . sun sentinel . retrieved 2014 07 28 . swisher hygiene delays quarterly report . sun sentinel . 2012 05 16 . retrieved 2014 07 28 . swisher hygiene gets extension . sun sentinel . 2013 03 11 . retrieved 2014 07 28 . nasdaq warns swisher its stock could be delisted . sun sentinel . 2012 11 17 . retrieved 2014 07 28 . swisher hygiene posts 2nd quarter loss . sun sentinel . 2013 08 12 . retrieved 2014 07 28 . marcia heroux pounds 2013 06 18 . huizenga sued by former owners of business acquired by swisher . sun sentinel . retrieved 2014 07 28 . http investing.businessweek.com research stocks earnings earnings.asp ticker swsh swisher announces effectiveness of reverse stock split tse swi.tc press release . swisher hygiene . retrieved 2014 07 28 . https www.sec.gov archives edgar data 1504747 000135448815004895 swsh 10q.htm external links edit swisher hygiene official site retrieved from https en.wikipedia.org w index.php title swisher hygiene & oldid 728094143 categories companies formerly listed on the toronto stock exchangecompanies listed on nasdaqhidden categories articles containing potentially dated statements from july 2014all articles containing potentially dated statements navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction 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