Solenis is to invest $193 million to expand its operation in Suffolk, Virginia. It will build a 7,400 m² production facility, packaging facility and tank farm for polyvinylamine (PVAm) polymers and a rail spur. This will create 34 jobs. PVAm polymers are mainly used in paper and cardboard manufacturing.

“As demand rises for sustainable manufacturing operations, this new facility not only ensures we have capacity to supply the paper packaging market, it will also help us diversify into other applications that can drive additional growth,” said CEO John Panichella. 

Solenis has completed the previously announced acquisition of Diversey in an all-cash deal that gives Diversey an enterprise value of about $4.6 billion. The combined firm will have 71 manufacturing facilities, more than 15,000 employees and operations in over 130 countries. It will be majority-owned by Platinum Equity, with Bain Capital, which owned Diversey, keeping a minority stake.

Speciality chemicals manufacturer Solenis has agreed to buy cleaning, infection prevention and hygiene giant Diversey. The $4.6 billion all-cash deal should be completed in 2H, subject to approval by Diversey shareholders, and will remove Diversey from public ownership. Both boards have backed it.

Solenis has completed the acquisition of Lima-based Grand Invest Group, including all its production assets. This is the fifth add-on acquisition since Platinum Equity acquired Solenis itself in 2021, with more potentially to come. Terms were not disclosed.

Aided by $4 million in state grant funds, Solenis is to move its R&D operations to Building 713 at Chestnut Run Innovation & Science Park (CRISP, pictured) in its home state of Delaware. This $40 million expansion comes “in response to increasing market demand for its sustainability-focused products and expertise and with an eye toward long-term growth”, the company said.

Solenis has agreed to acquire the paper process chemicals business of Kolb Distribution, a unit of KLK Kolb. Terms were not disclosed.The deal includes a long-term supply agreement, in which KLK Kolb will manufacture paper process chemicals exclusively for Solenis.

This is the fourth acquisition made by Solenis since Platinum Equity acquired it last year. The two firms will operate independently until closing, which is expected to be by the end of Q1 2023, subject to regulatory approval and customary closing conditions.

As rumoured last month, BASF and private equity investor Clayton, Dubilier & Rice (CD&R) have exited their joint ownership of paper and water treatment chemicals company Solenis, by selling it to Platinum Equity. Solenis will be merged with Platinum’s existing subsidiary Sigura, creating a player in water treatment with $3.5 billion/year in sales.