BDA advises Clearon on sale to Solenis

BDA Partners is pleased to announce that its client, Clearon Corp, controlled by Dalian Hui Yu Xin, has agreed to be sold to Solenis, a global leader in water treatment solutions and technology, and a portfolio company of Platinum Equity.

BDA Partners acted as exclusive financial advisor to Clearon and its shareholders on the transaction.

Clearon produces trichloroisocyanuric acid (trichlor) and dichloroisocyanuric acid (dichlor) at its plant in South Charleston, West Virginia. Clearon converts these core chemicals into an array of finished goods at its tableting and packaging facility. Products include sanitisers and disinfectants for applications such as recreational water treatment, as well as household, industrial and institutional (HI&I) and other water treatment applications.

Bryan Kitchen, President and CEO, Clearon, said: “Once closed, this transaction will align the strong legacy and complementary capabilities of two remarkable companies, both of whom are committed to safe, reliable, and sustainable operations for the betterment of their customers and the communities in which they operate. This combination will allow our customers to be met with a diverse portfolio of solutions while providing tremendous growth opportunities for Clearon’s most precious asset, our employees.”

John Panichella, CEO, Solenis, said: “This acquisition will help Solenis fulfill a strategic growth initiative following our recent ownership change to Platinum Equity, driving value through our branded Pool Solutions sanitisation product line, while providing an enhanced customer experience through expanded offerings and cost-effective pool solutions. We continue to work closely with the Platinum Equity team to identify opportunities to add value for our customers and drive growth for the Solenis team.”

Robert Baird, President of Pool Solutions, Solenis, said: “Clearon is an important accelerator in our strategic growth road map, and will be a step change in our ability to delight customers and consumers. We’re excited to add Clearon’s impressive portfolio of consumer solutions and remain vigilant in our quest to build the world’s leading company in pool and water care solutions.”

Euan Rellie, Managing Partner, BDA Partners, said: “We’re pleased to have delivered a strong outcome for Clearon and its shareholders. Bryan and the Clearon team have built an excellent business. BDA has known and worked with John Panichella and Platinum for many years; we know that Solenis will be a great partner and owner for this well-positioned asset. The transaction spans two of BDA’s key sectors: Chemicals and Consumer, where we regularly advise innovative, leading players on cross-border transactions worldwide.” 

Alex Ditchfield, Director, BDA Partners, said: “We’re glad to have found the ideal strategic partner for the next stage of Clearon’s growth. The transaction builds on BDA’s longstanding expertise in the Chemicals and Water Treatment space and demonstrates BDA’s ability to advise Asian shareholders seamlessly on cross-border transactions.”