LOS ANGELES, November 9, 2021 / PRNewswire / – Platinum Equity announced today that it has completed the acquisition of Solenis, one of the world’s leading producers of specialty chemicals used in water-intensive industries.

As part of the transaction, Solenis merged with Sigura Water, an existing Platinum Equity holding company, for a combined total transaction value of approximately $ 6.5 billion. The combined enterprise generates approximately $ 3.5 billion of sales and serves a wide range of customers around the world in the consumer, industrial and swimming pool water treatment markets.

Based at Wilmington, Delaware, Solenis provides specialty chemicals and innovative services for treatment, functional and water treatment applications in two main segments: consumer solutions (consumer and food packaging markets, graphic papers and fabrics and napkins ) and industrial solutions (main markets for water and wastewater treatment). Founded in 1907, its service-intensive business model relies on more than 1,400 highly trained sales technicians operating on-site with customers around the world.

With this merger, Solenis expands its portfolio to include the residential and commercial water treatment markets for swimming pools and spas in Sigura. As a result, the merger also expands Solenis’ global footprint, which will now cover 120 countries, 47 manufacturing plants and more than 6,000 employees. CEO of Solénis Jean Panichella will lead the combined company after the transition and integration. Robert baird, CEO of Sigura, remains president of the new Pool Solutions division at Solenis.

“This exciting new transition to Platinum Equity helps us extend the legacy of Solenis that began over a century ago,” said Jean Panichella, CEO of Solenis. “With growing demand for a safer, healthier and more sustainable world, Solenis is well positioned to continue to offer sustainable solutions and deliver measurable results to our customers. ”

“The addition of Sigura positions Solenis as a more diverse water treatment leader, with increased profitability and attractive growth opportunities,” added Panichella. “Sigura’s leading position in the swimming pool solutions market and its innovation-driven team complement our current offerings. As we welcome Robert and his team to Solenis, I am delighted with this opportunity to move forward together and focus on improving the profitability of our clients. , sustainability and healthier water treatment options. “

“The Sigura and Solenis teams have already worked hand in hand to plan our integration,” said Robert baird, President of the new Pool Solutions segment at Solenis. “While we have diversity in our end markets, it is exciting to note the similarities in the cultures of our company. Over the next few months, we will remain focused on serving our customers while executing our integration, which should be transparent to all of our customers. . I look forward to joining the Solenis leadership team and working with John and his team to strengthen our business together. “

“Sustainability is one of the most vital issues facing businesses across the world, and Solenis will continue to be a leader in providing sustainable solutions to its customers facing complex challenges such as disposal. of waste and the reduction of water and energy consumption ”, declared Jacob Kotzubei, partner at Platinum Equity. “We look forward to working with the Solenis management team to create a true market leader in water treatment and sustainability solutions with increased scale, scope and diversification. ”

“With the closing of this acquisition of Solenis and the simultaneous merger of these two leading companies in the sector, Solenis will now have the capacity to reach a new diversified market of customers and to expand its portfolio by incorporating additional resources, production and maintenance of water from Sigura. solutions in his company, ”said Todd golditch, Managing Director of Platinum Equity. “We are very pleased to join this world-class management team and continue to seek new opportunities to develop Solenis through organic growth initiatives and strategic mergers and acquisitions.

The Valence Group of Piper sandler was the exclusive financial advisor to Platinum Equity during the acquisition of Solenis. Gibson Dunn & Crutcher LLP provided legal advice and Willkie Farr & Gallagher LLP provided debt financing advice to Platinum Equity. BofA Securities and Goldman Sachs led the debt financing for the acquisition.

About platinum stocks

Founded in 1995 by Tom Gorès, Platinum Equity is a global investment firm with more than $ 25 billion of assets under management and a portfolio of approximately 50 operating companies that serve clients around the world. The company is currently investing with Platinum Equity Capital Partners V, a 10 billion dollars global buyout fund and Platinum Equity Small Cap Fund, a $ 1.5 billion buyout fund focused on investment opportunities in the lower middle market. Platinum Equity specializes in mergers, acquisitions and transactions – a brand strategy it calls M&A; & O® – acquiring and operating companies in a wide range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, services related to metals, media and entertainment, technology, telecommunications and other industries. Over the past 25 years, Platinum Equity has made over 300 acquisitions.

About Solénis

Solenis is one of the world’s leading producers of specialty chemicals focused on providing sustainable solutions for water-intensive industries, including pulp, packaging paper and board, fabrics and towels, oil and gas, petroleum refining, chemical processing, mining, biorefining, power, municipal utilities, and pool and spa markets. The company’s product portfolio includes a broad portfolio of water treatment chemicals, processing aids and functional additives, as well as state-of-the-art monitoring and control systems. These technologies are used by customers to improve operational efficiency, improve product quality, protect plant assets, minimize environmental impact and maintain clean water. Based at Wilmington, Delaware, the company has 47 manufacturing plants strategically located around the world and employs a team of more than 6,000 professionals in 120 countries on five continents. Solenis is one of the best managed companies in the United States in 2021.

For more information on Solenis, visit www.solenis.com or follow us on social media.

Media contacts:

Dan Whelan
Platinum Actions
(310) 282-9202
[email protected]

Catherine abernathy
Solenis
(904) 910-1071
[email protected]

SOURCE Platinum Action