The Valence Group advised Solenis on its combination with BASF of their paper and water chemical businesses. The combined company will have pro-forma sales of around $3 billion and intends to operate under the Solenis brand. The new combination is positioned to provide expanded chemical offerings and cost-effective solutions for customers in pulp, paper, oil and gas, chemical processing, mining, biorefining, power, municipal and other industrial markets.

BASF will own 49 percent of the combined company and 51 percent is collectively owned by Solenis management and funds managed by Clayton, Dubilier & Rice (CD&R). The new Solenis has approximately 5,200 employees, with increased sales, service and production capabilities across the globe.

The merger includes the Paper and Water assets of BASF’s Performance Chemicals unit, including production sites in Bradford and Grimsby, UK; Suffolk, Virginia, USA; Altamira, Mexico; Ankleshwar, India; and Kwinana, Australia and related assets including intellectual property. BASF’s paper coating chemical business is not part of the transaction.

Source: businesswire.com