Debevoise & Plimpton LLP is advising Clayton, Dubilier & Rice and its portfolio company, Solenis, in the sale of Solenis to Platinum Equity. The transaction, expected to close before the end of 2021, implies an enterprise value for Solenis of $5.25 billion. CD&R and Solenis management currently collectively own 51% of Solenis, and chemical company BASF holds the remaining 49%. Both CD&R and BASF will fully exit Solenis as part of the transaction announced today. For more information, see the company's press release.

Solenis is a leading global producer of specialty chemicals focused on delivering sustainable solutions for water-intensive industries, including the pulp, packaging paper and board, tissue and towel, oil and gas, petroleum refining, chemical processing, mining, biorefining, power and municipal markets.

The Debevoise team is led by M&A partners Spencer Gilbert, Christopher Anthony and Michael Diz and includes partner David Innes and associates Hilary Davidson, Margaret Howard and James Malmo, finance partner Scott Selinger and counsel Kevin Grondahl, benefits partner Franklin Mitchell and associate Wendy Widman, tax partners Erin Cleary, Peter Furci and Richard Ward and associates Heather Atkins, Molly Klinghoffer and Lena Smith, capital markets partner Paul Rodel, antitrust partners Timothy McIver and Michael Schaper, counsel Kyra Bromley and associates Kayleigh Anderson, Megan MacDonald and Anne-Mette Heemsoth, intellectual property associate Tigist Kassahun, and environmental counsel Stuart Hammer and associate Harry Zirlin.