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Clayton, Dubilier & Rice exits Water treatment specialist in USD5.25bn transaction

Clayton, Dubilier & Rice has completed the sale of Solenis, a leading global supplier of specialty chemicals and services forwater treatment applications, to Platinum Equity. 

Clayton, Dubilier & Rice has completed the sale of Solenis, a leading global supplier of specialty chemicals and services forwater treatment applications, to Platinum Equity. 

CD&R funds, which along with management owned 51 per cent of Solenis, and chemical company BASF, which held the remaining 49 per cent, both fully exited Solenis as part of the transaction. The total enterprise value was USD5.25 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 USD1.8 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 says: “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.”

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