DowDuPont Specialty Products division announced it will divest its DuPont Sustainable Solutions business to create a new, independent global operations management consulting firm.
Terms were not disclosed.
The new firm will be led and operated by existing DSS management and supported by Gyrus Capital, an investment firm based in Geneva, Switzerland.
“As client needs for a broader set of consulting services grow, the transition to an independent company will allow for increased flexibility to serve our clients and bring innovative solutions to market faster,” said Davide Vassallo, global managing director of DuPont Sustainable Solutions. “We are excited about the opportunity to build on our DuPont heritage and better meet the needs of our clients in this increasingly complex and changing world.”
The new company will maintain its strong connection to DuPont DSS will retain the rights to Intellectual Property related to the services it sells and will have continued access to the DuPont Sustainable Solutions name, the DuPont logo, knowledge, sites, capabilities and resources for a period of time.
“We are extremely proud of the many accomplishments we’ve made together with DSS. The DSS team has always been the practitioners and leaders embodying our core value of Safety, and in the new DuPont we remain resolute in our commitment to Safety and Health,” said Marc Doyle, Chief Operating Officer, DowDuPont Specialty Products division. “We wish DSS continued success as they chart their future.”
The transaction is expected to close in July 2019 pending the completion of all closing conditions.
DuPont Sustainable Solutions has more than 600 consultants and subject matter experts worldwide, serving clients in over 60 countries. Its clients come from industries such as oil and gas, chemicals/petrochemicals, mining and metals, and manufacturing.
For 50 years, DSS has been collaborating with clients to manage risk and improve the safety of their people and productivity of their operations, while developing the capability of workforces to sustain those improvements.