Investment firm to purchase Univar Solutions’ ES business

Affiliates of AEA Investors, a New York City-based global private investment firm, has agreed to acquire Univar Solutions’ Environmental Sciences business, based in Downers Grove, Ill., for $195 million. The deal is expected to close no later than early 2020, and the net proceeds are earmarked to pay down Univar Solutions’ debt. Trace McEuen, Univar Solutions’ vice president of Environmental Sciences, will continue to lead the business.

“AEA has a deep understanding of the Environmental Sciences business and our future opportunities, including our ability to meet the growing demand in our existing and adjacent end markets,” McEuen said in a press release. “As a standalone company, with the focused ownership and committed resources of AEA, we expect to be even better positioned to serve our customers and partner with suppliers as we drive growth and build on the momentum we have already created at Univar Solutions.”

The standalone Environmental Sciences business is expected to announce a new name and brand identity upon close of the transaction.

“We are convinced that this transaction will be a ‘win-win’ for our Environmental Sciences dedicated employees, our loyal customers and supplier partners and for Univar Solutions,” said David Jukes, Univar Solutions president and CEO. “We are confident that AEA has the right resources and vision to position the business for long-term, sustainable growth. We will continue our intense focus on growing the value of our core chemical distribution and ingredient business, and capturing the maximum value from the integration of the legacy Univar and Nexeo Solutions.”

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from Pest Management Professional https://www.mypmp.net/2019/12/06/investment-firm-to-purchase-univar-solutions-es-business/
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