M&A Deal Summary

Platinum Equity Acquires Solenis

On July 6, 2021, private equity firm Platinum Equity acquired chemicals company Solenis from CD&R for 5.3B USD

Acquisition Highlights
  • This is Platinum Equity’s 4th transaction in the Chemicals sector.
  • This is Platinum Equity’s 2nd largest (disclosed) transaction.
  • This is Platinum Equity’s 99th transaction in the United States.
  • This is Platinum Equity’s 1st transaction in Delaware.

M&A Deal Summary
Date 2021-07-06
Target Solenis
Sector Chemicals
Buyer(s) Platinum Equity
Sellers(s) CD&R
Deal Type Secondary Buyout
Deal Value 5.3B USD
Advisor(s) BofA Securities
Citigroup Investment Banking (Financial)
Debevoise & Plimpton (Legal)

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

Platinum Equity

Beverly Hills, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1995
PE ASSETS 48.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Platinum Equity's headquarters in Beverly Hills, California.
Platinum Equity's headquarters in Beverly Hills, California.

Platinum Equity is a private equity firm focused on acquiring divestitures of larger public companies primarily in North America and Europe. Historically, Platinum targeted technology/software related businesses, however, the firm has since branched out beyond tech and will consider acquisitions in a broad range of industries including chemicals, communications, logistics, healthcare, automotive, industrial products, and business services. Platinum Equity was formed in 1995 by Tom Gores and is based in Beverly Hills, California.

DEAL STATS #
Overall 123 of 148
Sector (Chemicals) 4 of 4
Type (Secondary Buyout) 28 of 41
State (Delaware) 1 of 1
Country (United States) 99 of 116
Year (2021) 9 of 14
Size (of disclosed) 2 of 31
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-02 Multi-Color

Batavia, Ohio, United States

Multi-Color is a provider of label solutions supporting a number of brands including leading producers of home and personal care, wine and spirit, food and beverage and specialty consumer products. MCC serves international brand owners in North, Central and South America, Europe, Australia, New Zealand, South Africa and China with a comprehensive range of the latest label technologies in Pressure Sensitive, Cut and Stack, In-Mold, Shrink Sleeve and Heat Transfer. Multi-Color was founded in 1916 and is based in Batavia, Ohio.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-07 Paramount Global

La Mirada, California, United States

Paramount Global is a developer, importer, and distributor of premium, proprietary porcelain tile and other hard surface floor coverings used primarily in remodel and replacement solutions by both residential and commercial end-users. Paramount Global is based in La Mirada, California.

Buy -

Seller(S) 1

SELLER

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 41 of 45
Sector (Chemicals) 2 of 2
Type (Secondary Buyout) 5 of 5
State (Delaware) 1 of 1
Country (United States) 31 of 35
Year (2021) 3 of 5
Size (of disclosed) 1 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-02 Multi-Color

Batavia, Ohio, United States

Multi-Color is a provider of label solutions supporting a number of brands including leading producers of home and personal care, wine and spirit, food and beverage and specialty consumer products. MCC serves international brand owners in North, Central and South America, Europe, Australia, New Zealand, South Africa and China with a comprehensive range of the latest label technologies in Pressure Sensitive, Cut and Stack, In-Mold, Shrink Sleeve and Heat Transfer. Multi-Color was founded in 1916 and is based in Batavia, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-14 Core & Main

St. Louis, Missouri, United States

Core & Main is a distributor of water, sewer, storm, fusible piping, and fire protection infrastructure products that serves the needs of both contractors and municipalities in all aspects of the water, wastewater, clean water, landfill, energy, and fire protection industries. Core & Main was founded in 1874 and is based in St. Louis, Missouri.

Sell -
Mergr

Product

Company

Legal