Equity firm acquires specialty chemicals company

Article by Amanda Jasi

PLATINUM Equity, an investment firm, is to acquire specialty chemicals company Solenis for US$5.25bn.

Solenis is a specialty chemicals supplier focussed on providing sustainable options for water-intensive industries. The company serves two primary segments, consumer – which includes consumer and food packaging, graphic paper, and tissue and towel markets – and industrial, which comprises core water treatment and wastewater markets.

Platinum intends to merge Solenis with Sigura Water, a water treatment company which it acquired in 2019 for US$6.5bn. Sigura makes and sells water-care products and services for commercial and residential pool and spa applications, as well as industrial markets.

The combined company will generate about US$3.5bn in revenue.

Platinum is acquiring Solenis from chemical company BASF and investment firm Clayton, Dubilier & Rice. The acquisition and merger is expected to be complete before the end of 2021.

Todd Goldrich, Managing Director at Platinum Equity, said: “Solenis and Sigura are highly complementary businesses and a fantastic fit with very little product or customer overlap.”

“Platinum Equity will continue to seek new opportunities to grow the combined company further, through additional mergers and acquisitions.”

Article by Amanda Jasi

Staff reporter, The Chemical Engineer

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