Solenis, a leading global producer of specialty chemicals, has been acquired by Platinum Equity from Clayton, Dubilier & Rice (CD&R) and BASF in a transaction worth $5.25 billion. Both CD&R and BASF have fully exited Solenis.
In addition, as part of the acquisition, Solenis has merged with Sigura Water, an existing Platinum Equity portfolio company, for a total combined transaction value of approximately $6.5 billion. The combined company generates approximately $3.5 billion of revenue.
Headquartered in Wilmington, Delaware, Solenis supplies innovative specialty chemicals and services for process, functional and water treatment applications in 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). Founded in 1907, its service-intensive business model relies on more than 1,300 highly trained sales technicians operating on-site at customer locations around the world.
“This exciting new transition to Platinum Equity helps us expand the Solenis legacy started more than a century ago,” said Solenis CEO John Panichella. “With increasing demand for a world that’s safer, healthier and more sustainable, Solenis is well-positioned to continue driving sustainable solutions — and delivering measurable results — for our customers.”
