Davis Polk is advising Solvay SA in connection with the $890 million sale of its sulfuric acid virgin production and regeneration business, Eco Services, to affiliates of CCMP Capital Advisors, LLC. The transaction, which is subject to customary closing conditions, is expected to be completed in the fourth quarter of 2014.
As an international chemical group, Solvay assists industries in finding and implementing responsible and value-creating solutions. Solvay Eco Services is the U.S. leader in technologies that sustainably regenerate sulfuric acid for oil refineries. CCMP specializes in middle market buyouts and growth equity investments of $100 million to $500 million in North America and Europe.
The Davis Polk corporate team includes partners Jacques Naquet-Radiguet and William H. Aaronson, and associates Darren M. Schweiger and Michael Crowley. Partner Jeffrey P. Crandall and associate Jessica Lutrin are providing executive compensation advice. Counsel Hayden S. Baker is providing environmental advice. Associate Pritesh P. Shah is providing intellectual property advice. Partner Neil Barr and associate William A. Curran are providing tax advice. Members of the Davis Polk team are based in the New York and Paris offices.