Solenis To Acquire Paper Process Chemicals Business Of KLK Kolb Group
Solenis and Kolb Distribution Ltd. (“Kolb”), a unit of KLK Kolb Group, have announced that Solenis has entered into a definitive agreement to acquire the latter’s paper process chemicals business. The deal includes a long-term supply agreement, in which the KLK Kolb Group will manufacture paper process chemicals exclusively for Solenis.
KLK Kolb Group offers a broad portfolio of paper process chemicals, including deposit control, cleaning and foam control agents primarily for the EMEA pulp and paper markets. Its wide range of manufacturing process technologies, including alkoxylation, esterification and dispersion, enables KLK Kolb Group to offer a broad range of products, as well as offer customized solutions for its customers.
The transaction is expected to be completed before the end of Q1 2023, subject to regulatory approval and customary closing conditions.
Solenis and KLK Kolb Group will continue to operate as independent companies until the transaction is complete.
“Kolb’s outstanding reputation is built on their customer-centric and high-quality service business model. We are excited to welcome the Kolb team and their excellent product portfolio as we continue to strive toward being the best-in-class provider of paper process chemicals,” said John Panichella, CEO, Solenis.
“Establishing a long-term supply agreement will provide customers throughout EMEA assurance of supply for cost-effective and high-quality products,” said Jonas Boström, vice president and general manager, EMEA Consumer Solutions, Solenis. “The added range of process technologies and product flexibility ensures that we can meet even more application-specific product needs.”
“KLK Kolb Group has a reputation of providing our customers with extensive application know-how and expertise to provide the best solutions to tackle complex challenges,” said Florian Krückl, managing director, KLK Kolb Group. “I am confident that by combining our paper process chemicals portfolio with Solenis’ channel to market, we will drive value through an enhanced customer experience.”
The Kolb transaction marks the fourth add-on acquisition since Platinum Equity acquired Solenis last year.
“Solenis is proving to be an outstanding platform for growth, both organically and through strategic M&A,” said Platinum Equity Partner, Jacob Kotzubei. “We will continue working with John and the management team to find more opportunities to help the company expand.”