Clayton, Dubilier & Rice today announced the completion of the sale of Solenis, a leading global supplier of specialty chemicals and services for water treatment applications, to Platinum Equity. CD&R funds, which along with management owned 51% of Solenis, and chemical company BASF, which held the remaining 49%, both fully exited Solenis as part of the transaction. The total enterprise value was $5.25 billion.
CD&R funds acquired Solenis in July 2014 in a carve-out of the non-core operating subsidiary of Ashland, Inc. (NYSE: ASH) that ascribed an enterprise valuation of $1.8 billion to Solenis. In 2019, Solenis merged with BASF’s Paper & Water Chemicals business, creating a leading solutions provider for the pulp & paper and water treatment industries.
CD&R Partner Stephen Shapiro said, “We have been delighted with our investment in Solenis and our partnership with its talented team, which has achieved significant performance gains, expanded the company’s global presence, strengthened its customer offerings, and positioned it as a sustainability leader. These improvements have provided Solenis with a strong foundation for continued growth and a rewarding future.”
About Clayton, Dubilier & Rice
Clayton, Dubilier & Rice is a private investment firm with a strategy predicated on building stronger, more profitable businesses. Since inception, CD&R has managed the investment of more than $35 billion in over 100 companies with an aggregate transaction value of more than $160 billion. The Firm has offices in New York and London. For more information, visit www.cdr-inc.com.
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 more than 5,200 professionals in 120 countries across five continents. Solenis is a 2021 US Best Managed Company. Learn more here and at www.solenis.com.