Platinum Equity-backed Solenis completes buyout of cleaning products firm Diversey

• Headquartered in Wilmington, Delaware, Solenis is global producer of specialty chemicals focused on delivering sustainable solutions for water-intensive industries
• 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

Solenis, a portfolio company of Platinum Equity, has closed its previously announced buyout of Diversey, a South Carolina-based provider of hygiene, infection prevention and cleaning products and technology. The deal was for about $4.6 billion.

Headquartered in Wilmington, Delaware, Solenis is global producer of specialty chemicals focused on delivering sustainable solutions for water-intensive industries.

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.

“We are excited to create a larger, more expansive platform that will enable Solenis with even more opportunities to grow both organically and through additional acquisitions in core and adjacent markets going forward,” said Platinum Equity Managing Director Nathan Eldridge in a statement.

BofA Securities, Goldman Sachs and Piper Sandler served as financial advisors to Solenis on the transaction. Gibson, Dunn & Crutcher LLP provided legal counsel and Willkie Farr & Gallagher LLP provided debt financing counsel to Platinum Equity and Solenis. BofA Securities and Goldman Sachs led the debt financing for the acquisition.

Founded in 1995 by Tom Gores, Platinum Equity has approximately $36 billion of assets under management.