M&A Deal Summary

CD&R Acquires Solenis

On February 18, 2014, private equity firm CD&R acquired chemicals company Solenis from Ashland for 1.8B USD

Acquisition Highlights
  • This is CD&R’s 2nd transaction in the Chemicals sector.
  • This is CD&R’s 18th largest (disclosed) transaction.
  • This is CD&R’s 29th transaction in the United States.
  • This is CD&R’s 1st transaction in Delaware.
Investment Fate
  • Solenis was sold to a consortium of financial buyers in 2021 for 5.3B USD.

M&A Deal Summary
Date 2014-02-18
Target Solenis
Sector Chemicals
Buyer(s) CD&R
Sellers(s) Ashland
Deal Type Divestiture
Deal Value 1.8B USD

Target

Solenis

Wilmington, Delaware, United States
Solenis is a global manufacturer of specialty chemicals for pulp, paper, oil and gas, chemical processing, mining, biorefining, power, and municipal markets. Solenis was founded in 2014 and is based in Wilmington, Delaware.

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Buyer(S) 1

Buyer

CD&R

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1978
PE ASSETS 30.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Clayton, Dubilier & Rice LLC (CD&R) is a large private equity firm that targets non-core divestitures of large corporations, growth equity financings, traditional buyouts, and corporate/family partnerships. CD&R looks for opportunities in North America, Western Europe, and Asia and will consider businesses in a wide range of sectors including consumer/retail, healthcare, industrials, and services. Prospective companies generally lead their respective markets, have stable cash flows, and possess competitive advantages through differentiated products, services, or processes. CD&R was formed in 1978 and has offices in New York City and London.

DEAL STATS #
Overall 37 of 92
Sector (Chemicals) 2 of 2
Type (Divestiture) 16 of 25
State (Delaware) 1 of 1
Country (United States) 29 of 67
Year (2014) 1 of 3
Size (of disclosed) 18 of 34
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-31 TruGreen

Memphis, Tennessee, United States

TruGreen is an operator of a lawn care company that offers lawn, tree and shrub care services. TruGreen was founded in 1973 and is based in Memphis, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-14 Exova Group

London, United Kingdom

Exova Group Ltd. is a provider of technical and engineering services to the aerospace, energy, oil and gas, civil engineering, transportation, fire, pharmaceutical, environmental, food and consumer products industries. Exova’s services include quality control, product accreditation, and specification compliance mission critical to its customers.

Sell -

Seller(S) 1

SELLER

Ashland

Wilmington, Delaware, United States
Category Company
Founded 1924
Sector Chemicals
Employees3,800
Revenue 2.2B USD (2023)
DESCRIPTION

Ashland is a global specialty chemicals company. Ashland has three reportable segments: Specialty Ingredients, Performance Materials, and Valvoline. Specialty Ingredients is a global provider of cellulose ethers, vinyl pyrrolidones, and biofunctionals. Performance Materials is composed of two divisions: Composites and Intermediates/Solvents. Performance Materials is a global provider of unsaturated polyester resins and vinyl ester resins. Ashland was founded in 1924 and is based in Wilmington, Delaware.

DEAL STATS #
Overall 6 of 14
Sector (Chemicals) 4 of 10
Type (Divestiture) 5 of 12
State (Delaware) 1 of 2
Country (United States) 6 of 14
Year (2014) 1 of 2
Size (of disclosed) 1 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-03 Ashland - Vinac & Flexbond Buisness

United States

Ashland - Vinac & Flexbond branded products are used to make a variety of adhesives for use in woodworking and paper packaging and converting applications and Flexbond whose branded products are used to make interior and exterior architectural paints.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-09 Ashland - Elastomers Business

Port Neches, Texas, United States

Ashland - Elastomers Business which primarily serves the North American replacement tire market.

Sell -
Mergr

Product

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