Solenis, a provider of water treatment solutions, has completed its acquisition of Diversey Holdings Ltd., a provider of cleaning and disinfection solutions, for approximately $4.6 billion.
The parties completed the acquisition, which had been announced earlier this year, effective July 5.
With the acquisition, Solenis has grown to an enterprise operating in over 130 countries with 71 manufacturing facilities and more than 15,000 employees. Headquartered in Wilmington, Delaware, Solenis was acquired by Platinum Equity in 2021. Bain Capital, the majority shareholder of Diversey, will hold a minority stake in Solenis as a result of the transaction.
“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,” said John Panichella, CEO of Solenis. “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.”
Panichella stated that the addition of the Diversey line of cleaning and hygiene products and technologies helps create cross-selling opportunities that will make Solenis an even more valuable partner for its customers.
"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,” said Platinum Equity Co-President Jacob Kotzubei. “By joining forces, they're better positioned to accelerate the pace of progress across a wider range of high-growth end markets.”
