Sigura Water, a Platinum Equity company, and manufacturer of pool and spa chemicals, announced that it had completed its merger with Solenis, a global leading producer of specialty chemicals, which was in turn acquired by Platinum Equity this November, a transaction worth $6.5 billion.
Sigura’s pool and spa care portfolio includes a variety of shock, sanitizers, oxidizers, algicides, and balancers, marketed under well-known brands such as HTH, Poolife, Baquacil, BaquaSpa, Leisure Time, GLB, and Applied Bio for residential pools and spas as well as Pulsar and CCH for commercial applications.
Headquartered in Wilmington, Delaware, Solenis supplies innovative specialty chemicals and services for process, functional and water treatment applications in two primary segments: Consumer Solutions (consumer and food packaging, graphic paper, and tissue and towel markets) and Industrial Solutions (core water treatment and wastewater markets).
With this merger, Solenis is expanding its portfolio to include the residential and commercial pool water and spa treatment markets of Sigura. As a result, the merger also widens the global footprint of Solenis, which will now span 120 countries, 47 manufacturing facilities, and more than 6,000 employees.
Solenis CEO, John Panichella, will lead the combined company following the transition and integration. Robert Baird, CEO of Sigura, remains as president of the new Pool Solutions division at Solenis.
According to Panichella, the addition of Sigura positions Solenis as a more diversified water treatment leader with increased profitability and attractive growth opportunities.
“Sigura’s industry-leading position in the pool solutions market and innovation-focused team complement our current offerings. As we welcome Robert and his team to Solenis, I’m excited for the opportunity to move forward together, enhancing our customers’profitability, sustainability, and deployment of healthier water treatment options,” Panichella said.
Baird says that both the Sigura and Solenis teams have been working hand-in-hand planning the integration.
“Although we have diversity in our end markets, it is exciting to note the similarities in our company cultures. Over the next few months, we will focus on serving our customers while completing our integration. We are planning a smooth transition with no customer impact,” Baird said.
Platinum Equity is a global investment firm with more than $25 billion of assets under management and a portfolio of approximately 40 operating companies that serve customers around the world.Platinum Equity specializes in mergers, acquisitions, and operations — a trademarked strategy it calls M& A& O
— acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation, logistics, equipment rental, metals services, media and entertainment, technology and telecommunications. For 25 years, Platinum Equity has completed more than 300 acquisitions.