WILMINGTON, Del. (News release) -- Solenis, a leading global provider of water and hygiene solutions, completed its previously announced acquisition of NCH Corporation (NCH). NCH is the quality leader and trusted on-site expert in middle-market water treatment and industrial solutions.
With the acquisition, Solenis has grown into an enterprise operating in over 160 countries with approximately 23,000 employees. Headquartered in Wilmington, Delaware, Solenis is owned by Platinum Equity. With the deal completion, Bain Capital and also the Levy family, previous owners of NCH, will hold minority stakes in Solenis.
"By adding NCH's well-recognized brands and broad customer base in the middle market, Solenis has a more diversified business with increased scale, an expanded global footprint, and superior customer service capabilities. Together, the newly combined company will provide attractive cross-selling opportunities, especially to meet the increasing customer demand for sustainable and digital solutions," said John Panichella, Chief Executive Officer, Solenis.
"We are excited to join forces with Solenis," said the Levy family. "NCH and Solenis are better together, providing our customers with a broader product and service offering."
"This is a transformational opportunity to help Solenis further diversify its business and expand its ability to serve customers," said Platinum Equity Co-President Jacob Kotzubei and Platinum Equity Managing Director Nathan Eldridge in a joint statement. "We are thrilled to have the Levy family as our partners."
BofA Securities, Goldman Sachs and BMO Capital Markets 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. Foley & Lardner LLP served as legal advisor, and Evercore as financial advisor for NCH.
