DOWNERS GROVE, Ill. and NEW YORK — Univar Solutions, the largest distributor serving the structural pest control industry, and AEA Investors, a global private investment firm, announced they closed on the sale of Univar Solutions' Environmental Sciences business to affiliates of AEA for $195 million. In line with its previously stated commitment, Univar said it will use the net proceeds from the transaction to pay down its existing term loan debt balance.
"We are pleased to have completed this transaction as we continue to intensify our strategic focus on our core chemical and ingredient distribution businesses. We're confident that AEA is the right partner to position Environmental Sciences for continued growth and industry leadership in pest management product distribution," said David Jukes, Univar Solutions president and chief executive officer.
Headquartered in Austin, Texas, Univar Solutions’ Environmental Sciences serves pest management professionals 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.
For Univar Solutions, Piper Jaffray & Co. served as financial advisor, and Stinson LLP served as legal counsel. For AEA, Fried, Frank, Harris, Shriver & Jacobson LLP served as legal counsel.
Read more here: https://www.pctonline.com/article/univar-solutions-aea-investors/.