In April 2025, the Company announced that it has entered into a definitive agreement to sell its global Cleaners and Disinfectants ("C&D") business to Kersia Group. The transaction is expected to close in the first quarter of the Company's 2026 fiscal year, subject to regulatory approval and customary conditions. The C&D business and the associated assets and liabilities met the criteria for presentation as held for sale as of May 31, 2025. The Company determined that the fair value less cost to sell exceeded the carrying value. Therefore, no impairment charge was recognized. The planned divestiture did not meet the criteria for presentation as a discontinued operation.

The major classes of assets and liabilities held for sale of the C&D business were as followed:


	Year Ended May 31, 2025
Accounts receivable, net	$	7,229
Inventory, net		8,707
Prepaid expenses and other current assets		874
Property and equipment, net		7,081
Right of use assets		273
Goodwill		12,977
Amortizable intangible assets, net		13,261
Total assets held for sale	$	50,402

Accounts payable	$	2,287
Accrued compensation		553
Other current liabilities		1,156
Deferred income tax liability		2,151
Other non-current liabilities		409
Total liabilities held for sale	$	6,556

Subsequent Event