Diversey is a provider of hygiene, infection prevention and cleaning products and technology and will help develop cross-selling options that will make Solenis a valuable partner for its customers
Solenis acquires Diversey. (Credit: PR Newswire/ Solenis)
Speciality chemicals manufacturer Solenis has announced the completion of the previously announced acquisition of Diversey for an enterprise value of around $4.6bn in cash.
Diversey is a provider of hygiene, infection prevention and cleaning products and technology.
With the acquisition, Solenis has now a presence in more than 130 countries with 71 manufacturing facilities and more than 15,000 employees.
Solenis, with its headquarters in Wilmington, Delaware, was bought by Platinum Equity in 2021.
As a result of this agreement, Diversey’s largest shareholder, Bain Capital, will own a minority interest in the speciality chemicals maker.
Solenis CEO John Panichella said: “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.
“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 maximise the promising opportunities ahead.”
According to Panichella, the addition of the Diversey line of cleaning and hygiene products and technologies will help develop cross-selling options that will make Solenis a valuable partner for its customers.
Platinum Equity co-president Jacob Kotzubei said: “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.”