THE WHAT? The Solvay Group has agreed to sell its North American and European amphoteric surfactant business to OpenGate Capital.
THE DETAILS The deal covers the three main production sites supporting amphoteric product lines and a tolling business as well as service and tolling agreements between Solvay and OpenGate to ensure a seamless transition and minimal customer disruption.
THE WHY? The sale will generate additional resources for Solvay to invest in its strategic growth segments as part of its portfolio simplification journey. As Michael Radossich, President of Solvay’s Novecare global business unit, explains, “This agreement represents another critical step in the execution of our strategic plan as we further focus our home and personal care portfolio on growing specialty formulations and custom solutions.”