Diversey to be acquired by Solenis in $4.6 billion deal

16th of March 2023
Diversey to be acquired by Solenis in $4.6 billion deal

In the US, Solenis and Diversey have entered into a definitive merger agreement under which Solenis will acquire Diversey in an all-cash transaction valued at an enterprise value of approximately $4.6 billion. Upon completion of the merger, Diversey will become a private company.

Headquartered in Delaware, Solenis is a leading manufacturer of specialty chemicals used in water-intensive industries, which was acquired by Platinum Equity in 2021. Bain Capital, which invested in Diversey in 2017 and subsequently took the company public in 2021, is currently the largest shareholder of Diversey.

The merger is expected to be completed in the second half of 2023, at which time Diversey's ordinary shares will no longer be listed on any public market.

"The merger presents a unique opportunity to enhance value and create a more diversified business with increased scale, broader global reach and superior customer service capabilities," commented Phil Wieland, CEO of Diversey. "It will enable the combined company to grow and provide a number of attractive cross-selling opportunities including meeting increasing customer demand for water management, cleaning and hygiene solutions."

Solenis CEO John Panichella will lead the combined company following the transition and integration.




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