Water treatment chemical firm Solenis to be sold, merged with Sigura

The private equity firm Platinum Equity is buying the water treatment chemical company Solenis from BASF and the investment firm Clayton, Dubilier & Rice (CD&R) in a deal valued at $5.25 billion. Platinum intends to combine Solenis with a water treatment company it owns, Sigura, to create a firm with $3.5 billion in annual revenues. CD&R bought Solenis from Ashland in 2014. BASF merged its water treatment unit with Solenis in 2019 in exchange for a 49% stake in the new company. Solenis, which has annual sales of about $2.8 billion, specializes in the wastewater and industrial sectors. Sigura is Lonza’s former pool chemical unit, which Platinum bought in 2019.