Brussels, December 2, 2014 --- Solvay has completed the divestment of its U.S.-based sulfuric acid virgin production and regeneration business Eco Services to affiliates of CCMP Capital Advisors LLC.
The divestment, at an enterprise value of US$ 890 million or just over 8,0 x adjusted EBITDA for the last twelve months ending June 30th, 2014, is part of the Group’s transformation to achieve higher growth and greater returns.
Solvay announced in July the agreement with CCMP Capital, which is specialized in middle market buyouts and growth equity investments in North America and Europe.
Eco Services is the U.S. leader in technologies that sustainably regenerate sulphuric acid for oil refineries and generated sales of € 288 million in 2013 with more than 500 employees.
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