Solvay selling Eco Services business affiliates CCMP Capital Advisors

Solvay to sell Eco Services business to CCMP Capital

11:25 AM, 31st July 2014
Solvay selling Eco Services business to affiliates of CCMP Capital Advisors

BRUSSELS, BELGIUM: Solvay has signed a binding agreement to sell its sulfuric acid virgin production and regeneration business Eco Services to affiliates of CCMP Capital Advisors, LLC. The transaction terms correspond to an enterprise value of $ 890 million.

“The divestment of Eco Services is another step in Solvay’s transformation aimed at achieving higher growth and greater returns. Eco Services has a market leading position and generates stable cash flows, but its business profile differs from Solvay’s strategic ambitions. CCMP Capital is committed to working with the management team to make the investments necessary to support the long term growth of the business,” said Jean-Pierre Clamadieu, CEO, Solvay.

 

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