Solenis for sale?
According to a report on Bloomberg that cited unnamed people involved, BASF and its private equity partner, Clayton Dubilier & Rice (CD&R), are considering an exit from water treatment specialist Solenis and have been in talks with several special purpose acquisition companies. A price in the region of $5 billion is reportedly being sought. Neither party has commented on this speculation.
Since BASF and CD&R brought it together in its current form in 2019, Solenis has incorporates the former Paper & Water Chemicals business of BASF with Ashland’s former water treatment chemicals business, which CD&R bought in 2014. It has over 5,200 employees and serves the pulp, paper, oil and gas, chemical processing, mining, biorefining, power, municipal and general industrial markets.