Elementis plc is buying chemical company SRLH Holdings Inc., doing business as SummitReheis, from private equity firm One Rock Capital. As part of the $360 million transaction, Summit will become a “part of an enlarged personal care business within Elementis.”
SummitReheis manufactures and distributes antiperspirant chemicals for deodorants such as sticks, roll-ons, clear gels, aerosols, soft solids, wipes, pump sprays and foot sprays. Under the ownership of One Rock, the target implemented a new enterprise resource planning system and restarted a production facility in Huguenot, New York. In 2015, One Rock also acquired portions of BK Giulini’s chemical business to integrate with SummitReheis. The target sells its products to a global network of distributors from production facilities in New York and the U.K.