Solenis Closes Grand Invest Acquisition
Solenis, a US producer of specialty chemicals for water-intensive industries, has closed its acquisition of Peru’s Grand Invest. The Wilmington, Delaware-headquartered company said the purchase aligns with its direct go-to-market strategy to provide customers in the region with improved chemical and water treatment products and services.
Headquartered in Lima, Grand Invest serves a range of industries, including oil & gas, petroleum refining, pulp and paper, mineral and fish processing, and sugar production, among others. Under the deal, Solenis has gained all Grand Invest’s operating assets, including strategic production and warehousing facilities.
“Grand Invest Group has a talented team of professionals with in-depth knowledge of customer needs in the Peruvian market. The opportunity to integrate their capabilities with Solenis will provide enhanced value for customers in Peru and other Andean countries,” said José Armando Aguirre, vice president and general manager of Solenis in Latin America.
This latest transaction is the fifth add-on acquisition since Platinum Equity acquired Solenis from Clayton, Dubilier & Rice and BASF in November 2021 for $5.25 billion. “We are delivering on our promise to help Solenis accelerate its growth internationally in key markets like Latin America,” Platinum Equity partner Jacob Kotzubei and managing director Nathan Eldridge said in a joint statement.
In 2022, Solenis acquired Germany’s SCL, the paper process chemicals business of KLK Kolb, as well as Clearon and Neu Kimya.
Last October, the company announced plans to invest $40 million to expand its research and development capabilities in its hometown of Wilmington.
Author: Elaine Burridge, Freelance Journalist
