Solenis Closes ChemSystems Buy
US specialty chemicals producer Solenis has closed its previously announced acquisition of the paper business of ChemSystems, a division of South Africa’s AECI, effective from Jun. 1.
Headquartered in Johannesburg, ChemSystems produces and supplies specialized chemical solutions for water-intensive industries, including pulp, paper and tissue manufacturing in Sub-Saharan Africa.
“The purchase of the paper business of ChemSystems represents another milestone in Solenis’ growth strategy as we continue to clean up our channel to market following the merger with BASF’s paper and water business,” said Solenis CEO John Panichella.
Solenis completed the merger with BASF’s paper and water chemicals business on Jan. 31, 2019. The combined business, which operates under the Solenis name, is owned to 49% by BASF and 51% by Solenis management and funds managed by US private equity company Clayton, Dubilier & Rice.
An agreement to acquire ChemSystems was signed on Feb. 28. The South African company was previously Solenis’ pulp and paper specialty chemical distributor in Africa.
Financial terms of the transaction were not disclosed.
