Closing advances Syensqo’s pure play specialty strategy
Syensqo today announced that it has completed the previously announced divestment of its Oil & Gas business unit to SNF Group for an Enterprise Value of €135 million. Syensqo’s Oil & Gas Business Unit, a global player in oilfield stimulation chemicals, generated net sales of approximately €400 million in 2024, or 6% of Syensqo’s total net sales, and employs approximately 600 people.
I am pleased to start the year with the completion of the divestment of the Oil & Gas business. In addition to securing a positive outcome for all stakeholders, it advances our pure play specialty strategy and enables us to further sharpen our strategic focus and to invest in our core businesses. I would also like to express my sincere gratitude to our colleagues and wish them continued success as they join SNF Group and embark on the next chapter of their journey.
Syensqo is a science company developing groundbreaking solutions that enhance the way we live, work, travel and play. Inspired by the scientific councils which Ernest Solvay initiated in 1911, we bring great minds together to push the limits of science and innovation for the benefit of our customers, with a diverse, global team of more than 13,000 associates in 30 countries.
Our solutions contribute to safer, cleaner, and more sustainable products found in homes, food and consumer goods, planes, cars, batteries, smart devices and healthcare applications. Our innovation power enables us to deliver on the ambition of a circular economy and explore breakthrough technologies that advance humanity.
Learn more at www.syensqo.com.