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Canada's Solmax to acquire geosynthetics manufacturer Propex

22
Nov '21
Pic: Solmax
Pic: Solmax
Canada’s Solmax has announced plans to acquire Propex, a leading US geosynthetics manufacturer with a long track record in the construction, transportation, mining, and automotive industries. With this transaction, Solmax reinforces its position as a leading geosynthetics solutions provider, whose products safeguard the earth from waste and contaminants.

With origins that can be traced back to 1910, Propex is one of North America's leading geosynthetics providers. An award-winning manufacturer and low-carbon solutions provider, it boasts a storied history and an enviable reputation for innovation, expertise, service excellence and value. 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, according to a press release by Solmax.

As industry leaders with a longstanding market presence, Solmax and Propex are both renowned for their geosynthetics expertise, application knowledge, product excellence, and customer service, as well as being recognised as ground-breakers in their respective spaces. Both companies' share a well-aligned vision of protecting the environment in a responsible manner to make the future a better world.  

K&L Gates 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, according to Solmax.

“The 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 specialised geosynthetic solutions, reducing the carbon footprint of conventional building solutions, and mitigating the environmental impact of human activities,” Jean-Louis Vangeluwe, president of Solmax said in a statement.

Fibre2Fashion News Desk (GK)

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