TPG Divests Chemical Distributor In $1.6B Transaction by PitchBook
TPG has closed the sale of Nexeo Solutions to WL Ross (NASDAQ: WLRH) in a transaction worth around $1.6 billion. The deal marks an end to TPG’s majority ownership of the global chemical & plastics distributor, though the firm expects to retain a roughly 35% stake.
While overall PE activity waned at the start of 2016, investors didn’t cool from backing chemical companies like Nexeo. According to the PitchBook Platform, the chemicals & gases space saw 30 PE deals close worldwide in 1Q, a 15% jump QoQ and 30% increase YoY. An additional 19 investments have been completed this quarter.
