TPG set to unload controlling interest in Nexeo Solutions for nearly $1.7B
March 22, 2016
TPG has agreed to sell a majority stake in chemicals and plastics distributor Nexeo Solutions to WL Ross Holdings (NASDAQ: WLRH) for an approximate enterprise value of $1.67 billion, including debt. TPG will roll over a portion of its existing equity and retain approximately 35% ownership in the company. The deal is expected to close during 2Q.