April 10, 2015 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Zep, Inc. (NYSE:ZEP), was announced concerning whether the takeover of Zep, Inc. by a fund managed by New Mountain Capital, L.L.C. for $20.05 per share is unfair to NYSE:ZEP stockholders.

The investigation by a law firm concerns whether certain officers and directors of Zep, Inc. breached their fiduciary duties owed to NYSE:ZEP investors in connection with the proposed acquisition.

On April 8, 2015, Zep Inc. (NYSE:ZEP) announced that they have entered into a merger agreement under which a fund managed by New Mountain Capital, L.L.C. will acquire all outstanding shares of Zep Inc. common stock for $20.05 per share in cash. The transaction is valued at approximately $692 million, including net debt.

However, given that at least one analyst has set the high target price for NYSE:ZEP at $21.00 per share, the investigation concerns whether the offer is unfair to NYSE:ZEP stockholders. More specifically, the investigation concerns whether the Zep Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Zep, Inc. reported that its Total Revenue rose from $645.97 million for the 12 months period that ended on August 31, 2011 to $696.49 million for the 12 months period that ended on August 31 2014.