• Evonik Industries AG (Evonik) is a Germany based company offering specialty and commodity chemical products
  • Evonik’s US betaines business specializes in manufacturing various amphoteric surfactant betaine formulations and specialty esters
  • Kensing LLC (Kensing) is a manufacturer of specialty chemicals across the personal care, home care, and health sectors 
  • One Rock Capital Partners (ORCP) is a private equity firm specializing in middle-market companies operating in chemicals and process industrials. ORCP acquired Kensing and the associated business of BASF in July 2021


  • DC Advisory (DC) was exclusively engaged by Evonik to provide sell-side financial advice
  • DC orchestrated a competitive marketing process, targeting high value partners that would view the business as an attractive strategic fit


  • Evonik closed on the sale of its US betaine business to Kensing on October 31, 2022
  • The divestiture represents a key step for Evonik as it continues to increase its emphasis on sustainability as the central driver of innovation
  • The transaction also represents a strategic acquisition for Kensing, a business known for its product quality and technical leadership, enabling the business to expand its existing surfactant and specialty esters product offerings
  • This transaction reinforces DC’s expertise within the chemicals markets and highlights our extensive cross border capabilities


“We are proud to have assisted Evonik, a global industrial client, in achieving this successful outcome within its strategic repositioning initiative - Kensing is as an excellent partner for the future of the business.”

Matt Storkman
Director, DC Advisory US