Solenis/Sigura to use new debt financing for buyout and merger

By Sara Rosenberg

New York, July 6 – Solenis/Sigura Water plans on getting new debt financing to help fund the acquisition of Solenis by Platinum Equity and merger with Sigura Water, an existing Platinum Equity portfolio company, according to a news release.

BofA Securities and Goldman Sachs are leading the debt financing.

Solenis is being bought from Clayton, Dubilier & Rice and BASF in a transaction with an implied enterprise value of $5.25 billion. Including the merger with Sigura, the total combined transaction value is about $6.5 billion.

Closing is expected before the end of the year, subject to regulatory approval and customary conditions.

Solenis is a Wilmington, Del.-based producer of specialty chemicals used in water-intensive industries. Sigura is an Alpharetta, Ga.-based provider of water treatment solutions.

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