Korea’s Samyang Holdings has acquired Verdant Specialty Solutions from private equity firm OpenGate Capital for about $250 million. Texas-based Verdant mainly makes amphoteric surfactants for personal care products, plus non-ionic surfactants for industrial applications. It has revenues of about $210 million/year, and employs some 300 in the US, the UK and Germany.
Verdant Specialty Solutions has acquired its US compatriot Baze Chemical from its founder, Curtis Baze. Terms were not disclosed. Baze is based at Odessa, Texas, employs 82 employees and mainly supplies ethoxylates for the oil and gas production, water treatment and mining industries.
Baze’s four facilities on the Gulf Coast include a 12,000 m2 surfactants manufacturing and custom alkoxylation facility in Palestine, Texas, which opened in 2016. This has six flexible reactors for EO and PO, abundant storage and significant capacity for growth, Verdant said.
Solvay Group has agreed to sell its North American and European amphoteric surfactant business to Los Angeles private equity firm OpenGate Capital. This is expected to close by the end of March, subject to consultation and regulatory approvals. Terms were not disclosed.
