Clayton, Dubilier & Rice (CD&R) has sold its speciality chemicals business Solenis to USA-based private equity company Platinum Equity.
The transaction is expected to close for a value of $5.25bn by the end of 2021.
CD&R and Solenis management currently collectively own 51% of the business, and chemical company BASF holds the remaining 49%.
Both CD&R and BASF will fully exit Solenis as part of the transaction.
Solenis’ global footprint covers 120 countries and five continents, with 41 manufacturing facilities.