Solvay sells amphoteric surfactant business to private equity firm

SOLVAY has sold its amphoteric surfactant manufacturing business, including production plants in UK, Germany and the US, to private equity firm OpenGate Capital.

Amphoteric surfactants are primarily used in shampoos, body soaps and homecare products. The business employs around 175 people and has three main production sites in Halifax, UK; Genthin, Germany; and Illinois, US. It also has a tolling business in Turkey.

The Belgian chemicals major said the sale continues its strategy to focus more on specialty formulations and custom solutions, and it expects to close the deal by the end of March.

OpenGate, which is headquartered in the US, plans to appoint John Foley, who previously worked as CEO of ORG Chemical Holdings, as the new head of the surfactant business. The companies have not disclosed the value of the deal.