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.