Platinum Equity To Acquire Water Treatment Company Solenis For $5.25 Billion

LOS ANGELES, Platinum Equity announced today that it has signed a definitive agreement to acquire Solenis, a leading global producer of specialty chemicals used in water-intensive industries, 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 and serve a diverse range of customers around the world in consumer, industrial and pool water treatment 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. The company's global footprint spans across 120 countries and five continents, and comprises over 5,200 employees and 41 manufacturing facilities.

"Global demand for solutions that save water, use less energy, eliminate waste, and convert everyday products to more sustainable materials is only continuing to grow," said Jacob Kotzubei, Partner at Platinum Equity. "As a leader in sustainability, Solenis has been helping its customers tackle these complex challenges for more than 100 years. It is an exceptionally well-run organization with an outstanding management team and a service-oriented culture.

We believe in the company's mission and we are excited to invest in its continued growth and expansion."

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.

About Solenis
Solenis is a leading global producer of specialty chemicals focused on delivering sustainable solutions for water-intensive industries, including the pulp, packaging paper and board, tissue and towel, oil and gas, petroleum refining, chemical processing, mining, biorefining, power and municipal markets. The company's product portfolio includes a broad array of water treatment chemistries, process aids, functional additives as well as state-of-the-art monitoring and control systems. These technologies are used by customers to improve operational efficiencies, enhance product quality, protect plant assets and minimize environmental impact. Headquartered in Wilmington, Delaware, the company has 41 manufacturing facilities strategically located around the globe and employs a team of approximately 5,000 professionals in 120 countries across five continents. Solenis is a 2021 US Best Managed Company.

About Sigura
Headquartered in Alpharetta, GA, Sigura is a leading provider of innovative water treatment solutions. The company maintains six production facilities throughout North America, South America, Europe and Africa, with 1,000 employees globally, located in all major regions. It features top consumer brands in the residential pool care market and strong positions in high-growth Industrial & Municipal water markets.