Solenis and Diversey Holdings, Ltd. announced they have entered into a definitive merger agreement under which Solenis will acquire Diversey in an all-cash transaction valued at an enterprise value of approximately $4.6 billion. Upon completion of the merger, Diversey will become a private company.
Solenis CEO John Panichella will lead the combined company following the transition and integration.
The merger is expected to be completed in the second half of 2023, subject to the satisfaction of customary closing conditions, including approval by Diversey shareholders holding a majority of the outstanding shares of the Company and receipt of regulatory approvals. Upon closing of the transaction, Diversey’s ordinary shares will no longer be listed on any public market.
Diversey is a leading provider of hygiene, infection prevention and cleaning solutions based in Fort Mill, South Carolina.
Solenis is a leading global producer of specialty chemicals.
