Platinum Equity successfully takes over Lonza’s Water Care business
Category: #business  By Nikita Chaurasia  Date: 2019-03-03
  • share
  • Twitter
  • Facebook
  • LinkedIn

Platinum Equity successfully takes over Lonza’s Water Care business
  • The divesture has been valued at USD 630 million.
     
  • Lonza will reinvest some of the transactional proceeds in the Healthcare Continuum.

Reputed global investment firm Platinum Equity has apparently made it to the headlines for having added a major business segment to its acquisition portfolio. If reports are to be believed, the company has declared that it has successfully completed the buyout of integrated solutions provider, Lonza’s water care business.

As per sources familiar with the knowledge of the matter, the divesture of Lonza’s water care business has been sealed in a transaction worth USD 630 million, approximately. Post the ownership transfer and the transition to being a standalone firm, Lonza’s water care business will generate a new corporate identity, the details of which will be unveiled a few months later. Reliable sources affirm that there are no changes on the cards with respect to the firm’s underlying consumer product brands.

Credible reports cite that the strategic agreement between the Lonza Group and Platinum Equity had already been announced back in November 2018. According to an official press release by Lonza, the company aims to reinvest a part of the transaction worth of the water care business in the Healthcare Continuum®. The deleveraging will continue to take place as pre-communicated, claims the release.

Incidentally, Lonza, earlier in the week, had already revealed the internal alignment of its business structure.

For the uninitiated, Lonza Group’s water care business is known to be a leading provider of highly innovative water treatment solutions. Reportedly, the firm successfully runs around six manufacturing facilities spanning the economies of EMEA, South America, and North America, and endorses sales locations in all major geographies across the globe. Trusted reports affirm that the water care business features some of the top-notch brands across the residential pool care market and pivotal positions in some of the high-growth industrial water care verticals.

An official statement by the leading private equity firm Platinum Equity claims that the company believes Lonza’s water care business to be a strong growth platform, owing to its market position and excellent track record for innovation.

For the record, Private Equity had been legally advised by Gibson, Dunn & Crutcher LLP for the acquisition of Lonza Group’s water care business.

About Author

Nikita Chaurasia    

Nikita Chaurasia

An accomplished professional in the field of content development, playing with words comes naturally to Nikita Chaurasia. After completing her post-graduate MBA degree in Advertising and PR, Nikita worked across numerous content-driven verticals, undertaking diverse r...

Read More

More News By Nikita Chaurasia

Google to team up with two banks to offer smart checking accounts
Google to team up with two banks to offer smart checking accounts
By Nikita Chaurasia

The project is the extension of the digital payment system, Google Pay   It is an attempt to focus on tech-focused alternative for traditional banking Google plans to partner with two banks, the Stanford Federal Credit Union and Citigroup ...

Saudi Arabia kicks off the IPO of its state oil producer Saudi Aramco
Saudi Arabia kicks off the IPO of its state oil producer Saudi Aramco
By Nikita Chaurasia

Numerous high-revenue companies are increasingly looking towards launching their IPO lately, primarily owing to the benefits offered by the process, including raising equity capital, liquidity for employees and investors, branding and visibility, the...

SoftBank inks a deal to take control over 80% of WeWork ownership
SoftBank inks a deal to take control over 80% of WeWork ownership
By Nikita Chaurasia

SoftBank has reportedly invested nearly USD 11 billion in workspace startup and real estate. In January, when the company decided to invest in WeWork, it did a valuation of around USD 47 billion. Since then, growing investor concern over WeWork&rsquo...