Pestalozzi advised Ashland on its USD 1.8 billion sale of its water technologies business to a fund managed by private equity firm Clayton, Dubilier & Rice
Ashland Inc sold its water technologies business to a fund managed by private equity firm Clayton, Dubilier & Rice in a transaction valued at approximately USD 1.8 billion. The sale closed 31 July 2014 and included the industrial water and the pulp and paper business units which will continue to operate as a standalone business under the brand name of Solenis. With annual sales of USD 1.7 billion, the sold water technologies unit is a leading supplier of specialty chemicals and services to the pulp and paper and industrial water markets. Pestalozzi advised Ashland on all Swiss legal aspects of the transaction.