LONZA SELLS ITS WATER CARE BUSINESS FOR $630 MILLION

Lonza Group and Platinum Equity jointly announced that Platinum Equity has entered into a definitive agreement with Lonza to acquire Lonza’s Water Care business and operations for $630 million. The inclusion of the French business in this transaction is still under discussion. With headquarters in Alpharetta, GA (USA), Water Care has six manufacturing facilities in key regions, including North America, South America, EMEA, and South Africa, with sales locations in all regions globally and with approximately 1,200 employees. The business is a leading provider of innovative water treatment solutions and a top global consumer brand in residential pool care and key positions in high-growth industrial and municipal water care markets. The agreement is expected to close in the first quarter of 2019, subject to customary closing conditions.