Solmax acquires Propex to further expand portfolio of geosynthetic products
by CM Staff
With this transaction, Solmax reinforces its position as a geosynthetics solutions provider.
MONTREAL — Solmax announces that it has agreed to acquire Propex, a U.S. geosynthetics manufacturer with a background in the construction, transportation, mining, and automotive industries. With this transaction, Solmax reinforces its position as a geosynthetics solutions provider.
Jean-Louis Vangeluwe, President of Solmax, commented: “This strategic acquisition enables Solmax to expand its sophisticated geosynthetics product portfolio for the benefit of engineers, distributors, contractors, operators, and others working in the environmental containment and civil infrastructure sectors. As a global leader in the industry, Solmax is accelerating the promotion and awareness of highly technical and specialized geosynthetic solutions, reducing the carbon footprint of conventional building solutions, and mitigating the environmental impact of human activities.”
Solmax’s geosynthetic solutions are used by major industrial companies in mining, energy, waste management, construction, civil engineering, environmental containment, infrastructure, and transport, while Propex’s infrastructure solutions and systems are used in erosion control applications, construction, transportation infrastructure, and industrial applications.
Both companies have echoed a commitment to a well-aligned vision of protecting the environment in a responsible manner to make the future a better world.
K&L Gates LLP and Jones Day acted as legal advisors to Solmax. Barclays and TD Securities are acting as joint financial advisors, underwriters, joint bookrunners and joint lead arrangers for the Solmax senior credit facilities. Solomon Partners acted as exclusive financial advisor and Stroock acted as legal advisor to Propex.