Piper Sandler & Co. chemicals & materials investment banking group (The Valence Group) announced that it has advised Platinum Equity on its acquisition of Solenis, a global producer of specialty chemicals used in water-intensive industries, from Clayton, Dubilier & Rice (CD&R) and BASF in a transaction that implies an enterprise value for Solenis of $5.25 billion.
As part of the transaction, Solenis is expected to merge with Sigura Water, an existing Platinum Equity portfolio company the firm acquired in 2019, for a total combined transaction value of approximately $6.5 billion.
The acquisition of Solenis and merger with Sigura are expected to be completed before the end of 2021, subject to regulatory approval and customary closing conditions.
Piper Sandler acted as exclusive financial advisor to Platinum Equity on the acquisition of Solenis.
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with more than $25 billion of assets under management and a portfolio of approximately 40 operating companies that serve customers around the world.
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