Ashland Water Technologies has a new name – Solenis. The name change coincides with the acquisition of Ashland Water Technologies by a fund managed by private investment firm Clayton, Dubilier & Rice (CD&R). Prior to the acquisition, Ashland Water Technologies was a commercial business unit of Ashland Inc. The sale closed July 31, 2014, and included the Industrial Water and the Pulp and Paper business units.
Although the name and brand is new, Solenis is grounded in a strong heritage that includes Ashland Water Technologies as well as Betz Laboratories, Drew, Stockhausen and Hercules. The stand-alone company continues a 94-year reputation as a respected manufacturer of specialty chemicals for the pulp, paper, oil and gas, chemical processing, mining, biorefining, power and municipal markets. Its product portfolio includes a broad array of process, functional and water treatment chemistries, as well as state-of-the-art monitoring and control systems.
“As a stand-alone company, Solenis is better positioned to pursue new opportunities and develop new products that will deliver better value to our customers and result in steady growth and improved margins," explained John Panichella, president and chief executive officer of Solenis.
According to Panichella, the company does not anticipate any changes to products, quality or services as a result of the transaction.