Platinum Equity Acquires Lonza's Water Care Business

Nestlé and Platinum Equity to Create Peranel Water and Premium Beverages Company

July 24, 2026

Food & Beverage

Nestlé and Platinum Equity have agreed to create Peranel, a standalone water and premium beverages company valued at approximately $5.6 billion. The partnership will combine Nestlé’s beverage brands and product development capabilities with Platinum Equity’s operational and investment expertise, with Peranel operating independently and focusing exclusively on water and premium beverages.

Merck Animal Health Acquires Elanco’s Aqua Business

February 6, 2024

Healthcare Services

Elanco Animal Health has agreed to sell its aqua business to Merck Animal Health for approximately $1.3 billion in cash. The divestiture includes aqua products and brands, aqua R&D projects, transfer of manufacturing sites in Prince Edward Island (Canada) and Dong Nai (Vietnam), and about 280 commercial and manufacturing employees, with closing expected around mid-year subject to regulatory approvals.

Platinum Equity Acquires Majority Interest in Kohler Energy from Kohler Co.

November 6, 2023

Energy

Platinum Equity has closed the transaction to acquire a majority interest in Kohler Energy from Kohler Co., establishing Kohler Energy as an independent, standalone business. Kohler Co. remains an investment partner, Brian Melka will serve as CEO and David Kohler will sit on the board; financial terms were not disclosed. Platinum Equity said it will invest in growth and operational initiatives to accelerate Kohler Energy's position in the global energy resilience market.

Nolan Capital Acquires Majority Stake in Water Engineering, Inc.

March 21, 2022

Industrial Services

Nolan Capital, the family office of Peter Nolan, has acquired a majority stake in Water Engineering, Inc., a Omaha-based provider of industrial water treatment solutions, chemicals and services. Nolan Capital’s Southern California portfolio company, Apollo Technologies, will join the combined Water Engineering platform as the investor and management team intend to pursue further acquisitions to build a national water treatment platform.

Platinum Equity Acquires Solenis and Combines It With Sigura Water

November 9, 2021

Manufacturing

Platinum Equity has completed its acquisition of specialty chemicals maker Solenis from Clayton, Dubilier & Rice and BASF for an enterprise value of $5.25 billion and simultaneously merged Solenis with Platinum-owned Sigura Water, creating a combined business with approximately $3.5 billion in revenue. The combined company expands Solenis' portfolio into residential and commercial pool & spa treatment markets, increases geographic reach and manufacturing scale, and will be led by Solenis CEO John Panichella with Sigura's Robert Baird heading the new Pool Solutions division.

Bain Capital and Cinven to Acquire Lonza Specialty Ingredients

February 8, 2021

Manufacturing

Bain Capital Private Equity and Cinven have entered into definitive agreements to acquire Lonza Specialty Ingredients (LSI), a division of Lonza AG, for a total enterprise value of CHF 4.2 billion. LSI, headquartered in Basel, Switzerland, is a global provider of specialty chemicals for microbial control with ~2,800 employees, and the consortium intends to invest in R&D, bolster production capabilities and use LSI as a platform for buy-and-build consolidation in the sector; the transaction was expected to close in H2 2021.