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The enhanced capabilities will empower Solenis to assist its customers in addressing crucial sustainability challenges, minimizing their environmental footprint, and creating a cleaner and safer world.
FREMONT, CA: "This merger makes Solenis a more diversified company with significantly increased scale, broader global reach, and the ability to offer a 'one-stop shop' suite of solutions that meet customer demand and address water management, cleaning, and hygiene issues on a global basis," says John Panichella, CEO of Solenis.
Solenis, a prominent manufacturer specializing in chemicals for water-intensive industries, has successfully finalized its previously declared acquisition of Diversey Holdings, effective July 5th. The transaction, valued at approximately $4.6 billion, was completed through an all-cash deal. Diversey, a leading provider of hygiene, infection prevention, cleaning products, and cutting-edge technology, now becomes a part of Solenis.
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"Together, we have a foundation from which we can continue to leverage our strong customer partnerships, leading-edge innovation, and value-added services to propel Solenis' aggressive growth trajectory. With continued support from Platinum Equity, we are confident that we will maximize the promising opportunities ahead," adds John Panichella.
As a result of this acquisition, Solenis has expanded its operations to encompass more than 130 countries, with 71 manufacturing facilities and a workforce exceeding 15,000 employees. Solenis, headquartered in Wilmington, Delaware, was acquired by Platinum Equity in 2021. Following the transaction, Bain Capital, the majority shareholder of Diversey, will retain a minority stake in Solenis.
"This is a transformational opportunity to bring together two innovative companies that have each been developing solutions for many of the world's most pressing challenges for more than 100 years. By joining forces, they're better positioned to accelerate the pace of progress across a wider range of high-growth end markets," says Jacob Kotzubei, Co-President of Platinum Equity.
Adding Diversey's extensive range of cleaning and hygiene products and technologies provides Solenis with new opportunities for cross-selling. The strategic move positions Solenis as an even more valuable customer partner.
"We are excited to create a larger, more expansive platform that will enable Solenis with even more opportunities to grow both organically and through additional acquisitions in core and adjacent markets going forward," says Nathan Eldridge, Managing Director of Platinum Equity.
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