Three Big Law Firms Help Platinum Buy Solenis for $5.25 Billion

Gibson, Dunn & Crutcher is advising billionaire Tom Gore’s firm Platinum Equity on its agreement to buy Solenis, a global producer of specialty chemicals used in water-intensive industries, from Clayton, Dubilier & Rice and German industrial company BASF SE.

Willkie Farr & Gallagher is advising Platinum on debt-financing aspects of the acquisition, which values Solenis at $5.25 billion. Debevoise & Plimpton said it’s advising Solenis and New York-based private equity firm CD&R, on the sale.

Platinum said the transaction also calls for Wilmington, Del.-headquartered Solenis to merge with Georgia-based Sigura Water, a pool treatment specialist company that Platinum acquired in 2019.

Closing of both the Solenis acquisition and merger with Sigura is expected before year’s end. The combined company, which would serve customers worldwide in consumer, industrial, and pool water treatment markets, would generate about $3.5 billion of revenue, Platinum said.

Solenis and Sigura make for “a fantastic fit with very little product or customer overlap,” said Todd Golditch, Platinum’s managing director. “Sigura’s high-performance pool and spa treatment business and industrial segment will slot perfectly into the Solenis portfolio, and both will benefit from increased scale and end-market diversification.”