Buyer Profile
Platinum Equity is a global firm specializing in M&A, operations, and transition of complex businesses, headquartered in Los Angeles. The firm has a demonstrated, large-scale commitment to the water treatment sector. In November 2021, Platinum Equity completed the acquisition of Solenis, a leading global producer of specialty chemicals used in water-intensive industries, for approximately $5.25 billion. Simultaneously, Solenis merged with Sigura Water, an existing Platinum Equity portfolio company acquired in 2019, creating a combined entity with approximately $3.5 billion in revenue and a total transaction value of approximately $6.5 billion.
The Solenis-Sigura combination created a diversified leader in sustainable water treatment solutions spanning consumer solutions (packaging, graphic paper, tissue), industrial solutions (core water treatment and wastewater), and residential/commercial pool water treatment markets. Founded in 1907, Solenis employs over 5,200 people across 120 countries and 41 manufacturing facilities, supported by more than 1,400 sales technicians operating onsite at customer locations globally.
Platinum Equity's CEO Tom Gores has emphasized that "global demand for solutions that save water, use less energy, eliminate waste" drives the firm's water investment thesis. This explicit articulation of the water treatment investment rationale makes Platinum Equity one of the most informed and committed potential buyers in the market for AquaScience.
The strategic fit is compelling on multiple levels. Platinum Equity has demonstrated its ability to acquire, integrate, and grow water treatment businesses at scale. The firm's merger of Solenis and Sigura demonstrates a buy-and-build approach to creating water treatment platforms -- exactly the playbook that could be applied to AquaScience as a regional platform in the Mountain West. Platinum Equity's operational expertise in managing distributed service businesses with large technical workforces translates directly to water treatment operations.
If Platinum Equity still holds Solenis (or successor water assets), AquaScience could be positioned as a strategic add-on that extends the platform's geographic coverage and customer base in the U.S. West. Platinum Equity's willingness to invest $6.5 billion in water treatment demonstrates conviction and capacity far beyond what AquaScience's acquisition would require.