December 15, 2014
FOR IMMEDIATE RELEASE
WILMINGTON, Del. – Solenis LLC today announced that it has signed an agreement to acquire Clearwater Specialties LLC, a privately-held specialty chemical company dedicated to the tissue and towel market. The deal includes all assets, intellectual property and business associated with Clearwater Specialties LLC and Clearwater Chemicals LLC. The transaction is expected to close in the first quarter of 2015, following receipt of customary regulatory approvals.
"The Clearwater Specialties products fit hand in glove with our current tissue and towel product portfolio,” said John Panichella, president and CEO, Solenis. “Leveraging our large channel to market and through our service-intensive business model, we will be able to offer their technologies to our global customer base.” “This is an excellent example of Solenis’ commitment to continuous investment in the pulp and paper industry,” stated Charles Robinson, senior vice president, Solenis.
“We are delighted to work together with the leading supplier of specialty chemicals to the tissue and towel industry to ensure a smooth transition for our customers,” stated Stephen H. Tucker, Managing Member of Clearwater Specialties LLC.
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Global
Vice President, Corporate Communications