Solenis Completes Acquisition of I&I Leader Diversey in $4.6 Billion Transaction

Solenis, a leading manufacturer of specialty chemicals used in water-intensive industries, has completed its previously announced acquisition of Diversey Holdings, Ltd. The all-cash transaction valued at an enterprise value of approximately $4.6 billion.

Diversey is a leading provider of hygiene, infection prevention and cleaning products and technology; the company is ranked No 13 on Happi’s recently published 2023 Top 50 Report.

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, DE, 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 this 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, 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.”

According to Panichella, 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.

“We now have greatly enhanced capabilities to help our customers tackle critical sustainability challenges, reduce their environmental impact and help create a cleaner, safer world,” he added.