Solenis Expands Water Treatment Portfolio with Clearon Buy
Solenis said the acquisition will boost its portfolio of products for the residential and commercial pool water and spa treatment markets.
Clearon produces trichloroisocyanuric acid and dichloroisocyanuric acid at its plant in South Charleston, West Virginia, converting the chemicals into finished goods at its tableting and packaging facility.
“This acquisition will help Solenis fulfill a strategic growth initiative following our recent ownership change to Platinum Equity, driving value through our branded Pool Solutions sanitization product line while providing an enhanced customer experience through expanded offerings and cost-effective pool solutions,” said Solenis CEO John Panichella. “We continue to work closely with the Platinum Equity team to identify opportunities to add value for our customers and drive growth for the Solenis team.”
Robert Baird, president of pool solutions at Solenis, added that the company remains “vigilant in our quest to build the world’s leading company in pool and water care solutions.”
The transaction is expected to be completed before the end of 2022, subject to regulatory approval and customary closing conditions.
In May, Solenis closed its purchase of Neu Kimya Anonim Şirketi, a Turkish company serving the heavy/light water treatment and oil & gas markets in Southeast Europe, Turkey and the Middle East.
Los Angeles-based Platinum Equity acquired Solenis from BASF and Clayton, Dubilier & Rice in November 2021 for an enterprise value of $5.25 billion.
Author: Elaine Burridge, Freelance Journalist