Univar Solutions
| Company type | Private |
|---|---|
| Industry | Chemical distribution |
| Founded | 1 January 1924 in Seattle, Washington, United States |
| Founder | George Van Waters, Nat S. Rogers |
| Headquarters | Downers Grove, Illinois , United States |
Area served | Worldwide |
| Products | Chemicals and ingredients distribution, value-added services |
| Owner | Apollo Global Management (majority), Abu Dhabi Investment Authority (minority) |
Number of employees | 9000 (2016) |
| Website | univarsolutions |
Univar Solutions Inc. (previously known as Royal Vopak) operates as a worldwide distributor of chemicals and ingredients, providing a range of value-added services. Established in 1924 by George Van Waters and Nat S. Rogers in Seattle under the name Van Waters & Rogers, the company was acquired in August 2023 by investment funds managed by Apollo Global Management, with the Abu Dhabi Investment Authority holding a minority stake.
History
Van Waters & Rogers initially specialized in trading naval supplies, paints, raw materials, and cotton linters. The company's pivot toward chemical distribution began with its involvement in the laundry supply sector. By the late 1920s, it expanded its Seattle facility and increased sales from $1 million in 1936 to nearly $2 million by the end of that decade, while establishing additional locations throughout the western United States. The 1940s witnessed a substantial growth in revenue from $2 million to over $18 million, driven by acquisitions and expansion into new markets such as San Francisco and Texas.
In 1950, Univar acquired Industrial Materials Ltd. based in Vancouver and Braun-Knecht-Heimann located in San Francisco. The firm went public in 1956 and extended its reach across western U.S. states, Texas, and Western Canada, achieving sales exceeding $80 million by 1959. During the 1960s, the company briefly relocated its headquarters to San Francisco, merged with United Pacific Corporation to form VWR United, and secured a listing on the New York Stock Exchange in 1969.
Following co-founder Nat Rogers’ retirement in 1970, Jim Wiborg assumed the role of CEO. The company adopted the "Univar" brand name in 1974 and accelerated national expansion through acquisitions, including McArthur Chemical, which solidified its presence in Canada. By the 1980s, Univar had become North America’s leading chemical distributor with sales surpassing $1 billion. It introduced ChemCare for chemical waste management and acquired McKesson Chemical, establishing a comprehensive coast-to-coast network across North America.
Growth extended into Europe through strategic acquisitions that created Univar Europe. In 1996, Royal Pakhoed purchased Univar; following its merger with Royal Van Ommeren in 1999, the combined entity was named Royal Vopak. Univar concentrated on sectors driven by population growth such as food production, pharmaceuticals, personal care products, coatings, and energy, employing technical experts to assist with product formulation. The acquisition of Ellis & Everard broadened its operations throughout the UK, Ireland, and North America.
Univar separated from Royal Vopak in 2002 and acquired competitor CHEMCENTRAL in 2007, transitioning to private ownership under CVC Capital Partners. By 2009, net sales had reached $1.2 billion with distribution volumes of approximately 2.7 billion metric tons of chemicals.
In 2010, Clayton, Dubilier & Rice obtained a significant ownership stake; shortly afterward Univar acquired Basic Chemical Solutions (U.S.) and Quaron (Belgium/Netherlands). The company relocated its headquarters to Downers Grove, Illinois in 2013 and filed for a $100 million initial public offering in 2014. Univar joined the Fortune 500 list in 2016 with nearly 9,000 employees and reported net sales of $8.3 billion for 2017.
The March 2019 acquisition of Nexeo Solutions—formerly part of Ashland Inc.—enhanced Univar’s market position; soon after this transaction it rebranded as Univar Solutions. Later that year it divested its North American Environmental Sciences segment.
In late 2022 Brenntag announced intentions to acquire Univar but withdrew early in 2023 following shareholder resistance.
In March 2023 Apollo Global Management agreed to take Univar private at an enterprise value of $8.1 billion with Abu Dhabi Investment Authority investing as a minority partner; this transaction was finalized in August 2023. Prior to this acquisition, Univar expanded through purchases including Turkish specialty chemicals distributor Kale Kimya and secured distribution agreements for Leprino Foods’ ingredients.
For fiscal year 2022, Univar reported revenues of $11.5 billion (a 20% increase) alongside net profits of $545 million (an 18% rise). The company ranks #61 on "The Best Companies for Future Leaders," highlighting its industry standing and commitment to leadership development.
Controversies
In April 2019, Univar USA Inc. reached a settlement with the United States Department of Justice amounting to $62.5 million concerning accusations of circumventing antidumping tariffs on 36 consignments of Chinese saccharin from 2007 through 2012. This agreement resolved allegations involving $36 million in unpaid tariffs, which affected the company's financial results and compliance history.