Wilmington, Del. -- Solenis has completed the acquisition of the stock of the Grand Invest Group on February 6, 2023. As part of the acquisition, Solenis will acquire all Grand Invest Group operating assets, including key strategic production and warehousing facilities.
Headquartered in Lima, Peru, the Grand Invest Group serves a range of industries, including pulp and paper, power, petroleum refining, municipal, oil and gas, mineral processing, fish processing and sugar production. The acquisition of the Grand Invest Group aligns with Solenis' direct go-to-market strategy to provide customers in the region with improved chemical and water treatment product and service offerings.
"Grand Invest Group has a talented team of professionals with in-depth knowledge of customer needs in the Peruvian market. The opportunity to integrate their capabilities with Solenis will provide enhanced value for customers in Peru and other Andean countries," said José Armando P. Aguirre, vice president and general manager of Solenis in Latin America.
"Solenis' ability to combine our strong product portfolio and in-depth knowledge of water-intensive industries with regional businesses has been a successful formula for growth and provides more expertise and offerings for customers in these regions," said John Panichella, CEO, Solenis.
The Grand Invest Group transaction marks the fifth add-on acquisition since Platinum Equity acquired Solenis in 2021.
"We are delivering on our promise to help Solenis accelerate its growth internationally in key markets like Latin America," said Platinum Equity Partner Jacob Kotzubei and Platinum Equity Managing Director Nathan Eldridge in a joint statement. "We are excited to continue working with John and the management team to find more opportunities to help the company extend its reach."