Univar Solutions Inc., a global chemical and ingredient distributor and provider of value-added services, and AEA Investors, a leading global private investment firm, today announced a definitive agreement under which affiliates of AEA will acquire Univar Solutions’ Environmental Sciences business for $195 million.
“After careful and thorough evaluation, we are convinced that this transaction will be a ‘win-win’ for our Environmental Sciences dedicated employees, our loyal customers and supplier partners and for Univar Solutions,” said David Jukes, Univar Solutions president and chief executive officer. “Environmental Sciences is already well established as an industry leader in pest management, and we are confident that AEA has the right resources and vision to position the business for long term sustainable growth. We will continue our intense focus on growing the value of our core chemical distribution and ingredient business, and capturing the maximum value from the integration of the legacy Univar and Nexeo Solutions.”
Trace McEuen, vice president of Environmental Sciences, who will continue to lead the business under AEA’s ownership, stated, “AEA has a deep understanding of the Environmental Sciences business and our future opportunities, including our ability to meet the growing demand in our existing and adjacent end markets. As a standalone company, with the focused ownership and committed resources of AEA, we expect to be even better positioned to serve our customers and partner with suppliers as we drive growth and build on the momentum we have already created at Univar Solutions.”
Headquartered in Austin, Texas, Univar Solutions’ Environmental Sciences business is a premier pest management business serving customers in the U.S., Canada, and Mexico directly through approximately 250+ sales and service professionals and 70 ProCenters and in Latin America and the Caribbean through a network of authorized dealer partners. The business serves the expanding markets for pest control (including structural pest, public health, wildlife, vegetation management, and turf & ornamental) with unparalleled products and services, as well as educational and technology resources, including PestWeb.com, a best-in-class online resource for pest management professionals.
The transaction is expected to close by the end of 2019 or early 2020, subject to receipt of regulatory approvals and satisfaction of other customary closing conditions. The standalone Environmental Sciences business is expected to announce a new name and brand identity upon close of the transaction.
Source: Univar Solutions
Researchers have developed a new chemical process capable of vaporizing plastics and converting them into hydrocarbon building blocks for new materials. This catalytic process breaks down two of the most dominant types of post-consumer plastic waste — PE and PP — into monomers, offering a potential solution to packaging waste management.
On 2 September 2024 it has been agreed that Heikki Malinen will assume the role of Neste’s President and CEO on 15 October 2024. He succeeds Matti Lehmus, who will continue as the President and CEO of Neste until 14 October 2024 and then act as an advisor to the company and its management until mid-November 2024 to ensure a smooth transition.
Eni SpA (Rome) and Azerbaijan’s state energy company Socar (Baku) have signed a memorandum of understanding (MOU) for potential cooperation in the biofuels production chain, including the possible conversion of conventional crude oil refineries into biorefineries. A schedule for potential projects was not given.
