Solenis has extended its ‘one-stop shop’ offering after acquiring Diversey Holdings in an all-cash transaction valued at an enterprise value of $4.6bn.
Diversey is a provider of hygiene, infection prevention and cleaning products and technology used in food and beverage, institutional, life science and other markets.
With this acquisition Solenis said it is focused on delivering “sustainable solutions for its water-intensive industries and other consumer, industrial, institutional, food and beverage, and pool and spa water markets.”
The Wilmington, Delaware-headquartered company now operates in over 130 countries with 71 manufacturing facilities and more than 15,000 employees.
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.
John Panichella, Chief Executive, Solenis, 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.”