Platinum Equity is set to acquire Lonza's Water Care business and operations for $630m.

Lonza and Platinum Equity jointly announced today that Platinum Equity has entered into a definitive agreement with Lonza to acquire Lonza's Water Care business and operations for $630m. The inclusion of the French business in this transaction is still under discussion. The business is a leading provider of innovative water treatment solutions and a top global consumer brand in residential pool care and key positions in high-growth industrial and municipal water care markets. "We are looking forward to working with Water Care's experienced management team to further grow the business and strengthen its unique positioning in residential pool care and industrial water markets around the world. Lonza's Water Care business has tremendous value as a standalone company." Jacob Kotzubei, Platinum Equity Partner.