Platinum Equity has signed a definitive agreement to acquire Solenis, a leading global producer of specialty chemicals, from Clayton, Dubilier & Rice (“CD&R”) and BASF in a transaction that implies an enterprise value for Solenis of $5.25 billion.
As part of the transaction, Solenis is expected to merge with Sigura Water, an existing Platinum Equity portfolio company the firm acquired in 2019, for a total combined transaction value of approximately $6.5 billion. The combined company is expected to generate approximately $3.5 billion of revenue.
Solenis currently serves two primary segments: Consumer Solutions (consumer and food packaging, graphic paper, and tissue and towel markets) and Industrial Solutions (core water treatment and wastewater markets). Sigura’s business is in the production and sale of water care solutions and value-added services for residential and commercial pool and spa applications as well as industrial markets.
Founded in 1907 and headquartered in Wilmington, Delaware, Solenis is a global leader in supplying innovative specialty chemicals and services for process, functional and water treatment applications to consumer and industrial markets.
