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Teneo represents Honeywell spin-off Solstice Advanced Materials as it buys Collected Strategies client Element Solutions in a deal pegged at $14.5B.
The transaction creates a $6.8B revenue company with strong positions in the refrigerants, performance materials, semiconductor, electronics and automotive sectors.
"Element brings highly complementary capabilities, deep customer relationships and a technical service-led model that expands how we support customers from early-stage development through high-volume manufacturing,” said David Sewell, Solstice CEO.
Headquartered in Morris Plains, NJ, Solstice spun off from Honeywell eight months ago. Miami-based Element shareholders will own 44 percent of the merged company.
Teneo’s Amy Schneiderman represents Solstice, while Collected Strategies’ Ed Hammond and Tali Epstein handle Element.
As capital concentrates among established firms, emerging managers must find new ways to earn investor confidence.
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