Syensqo to Divest its Oil & Gas Business Unit to SNF Group
The agreement marks an important milestone in Syensqo’s pure play specialty strategy.
Syensqo has entered into an agreement to divest its Oil & Gas Business Unit to SNF Group, a specialty chemical company headquartered in France and a global leader in polyacrylamide production, for an enterprise value of €135 million. This valuation equates to an EV/EBITDA multiple of roughly 7x for the twelve months ended June 2025.
Ilham Kadri, CEO of Syensqo, commented: "The announced divestment marks another important milestone since becoming an independent company and advances our pure play specialty strategy. I am pleased to have reached this agreement that unlocks value for our shareholders and allows us to further sharpen our strategic focus on our core segments. With the right strategic owner, the agreement also provides a positive outcome for our people and the business, thereby ensuring continuity for the customers of the Oil & Gas business."
Pascal Remy, CEO of SNF, added: "Leaning on a complementary products portfolio, the acquisition of Syensqo’s Oil & Gas division broadens SNF’s technology offering to customers, helping them enhance their processes and preserve natural resources. We look forward to welcoming Syensqo’s employees to SNF. Their expertise in R&D and market knowledge, combined with our shared focus on safety, sustainability, and customer success, make the Syensqo's Oil & Gas division an excellent fit for our company."
Syensqo’s Oil & Gas Business Unit, which specializes in oilfield stimulation chemicals, generated net sales of approximately €400 million in 2024, representing about 6% of Syensqo’s total net sales, and employs around 600 people.
The transaction is subject to customary closing conditions, completion of local consultation processes with employee representatives and regulatory approval. The transaction is expected to close in the first quarter of 2026.
