Correction: A previous headline stated that Sigura Water had been acquired by a new company. It remains with its owner.
Chemical manufacturer Sigura Water has been merged with another company and seen its name changed.
Platinum Equity, the private equity firm that owns the Alpharetta, Ga.-based manufacturer, recently acquired Solenis, a global producer of specialty chemicals whose products did not include pool/spa chemicals. The companies have been merged, with the joined company going by the name Solenis.
Headquartered in Wilmington, Del., Solenis supplies specialty chemicals and services for process, functional and water treatment applications in consumer appliclations, including consumer and food packaging, graphic paper and tissue and towel markets, and Industrial applications such as core water treatment and wastewater markets.
The merger introduces pool and spa chemicals to Solenis. The company will now cover 120 countries, with 47 manufacturing facilities and more than 6,000 employees.
Sigura CEO Robert Baird will serve as president of Solenis' Pool Solutions division. “Both the Sigura and Solenis teams have been working hand-in-hand planning our integration,” he said. “Although we have diversity in our end markets, it is exciting to note the similarities in our company cultures. During the next few months we will remain focused on serving our customers while completing our integration. We are planning a smooth transition with no customer impact.”
Solenis CEO John Panichella will remain to lead the combined company. “The addition of Sigura positions Solenis as a more diversified water treatment leader with increased profitability and attractive growth opportunities,” he said. “Sigura’s industry-leading position in the pool solutions market and innovation-focused team complement our current offerings. As we welcome Robert and his team to Solenis, I’m excited for the opportunity to move forward together, enhancing our customers’ profitability, sustainability, and deployment of healthier water treatment options.”
The combined company generates approximately $3.5 billion of revenue.
This marks the third name change for the company in three years. Known as Lonza in 2018, it became Innovative Water Solutions, then Sigura in 2019.