Solenis, a specialty chemical producer, has recently been acquired by Platinum Equity, Dubilier & Rice (CD&R) and BASF, in a transaction worth $5.25 billion. As part of the acquisition, Solenis has merged with Sigura Water, an existing Platinum Equity portfolio company.
Headquartered in Delaware, Solenis supplies specialty chemicals and services for process, functional and water treatment applications. With this merger, Solenis is expanding its portfolio to include the residential and commercial pool water and spa treatment markets of Sigura.
Solenis CEO, John Panichella, will lead the combined company following the transition and integration. Robert Baird, CEO of Sigura, remains as president of the new Pool Solutions division at Solenis.
“This exciting new transition to Platinum Equity helps us expand the Solenis legacy started more than a century ago,” said Panichella. “With increasing demand for a world that’s safer, healthier and more sustainable, Solenis is well-positioned to continue driving sustainable solutions — and delivering measurable results — for our customers.”
“Both the Sigura and Solenis teams have been working hand-in-hand planning our integration,” said Baird, President of the new Pool Solutions segment at Solenis. “Although we have diversity in our end markets, it is exciting to note the similarities in our company cultures. During the next few months we will remain focused on serving our customers while completing our integration. We are planning a smooth transition with no customer impact.”
