DowDuPont’s specialty products division will divest its DuPont Sustainable Solutions (DSS) and create a new, independent global operations management consulting firm.
The new firm will be led and operated by existing DDS management and supported by Swiss investment firm Gyrus Capital. DDS will retain the rights to intellectual property related to the services it sells, and will have continued access to the DuPont Sustainable Solutions name, DuPont logo, knowledge, sites, capabilities and resources for “a period of time.”
DSS has more than 600 consultants in 60 countries, from industries including oil and gas, chemicals/petrochemicals, mining and metals, and manufacturing. It collaborates with clients to manage risk, improve safety, up productivity and develop the capability of workforces to sustain improvements.
The transaction is expected to close in July 2019; financial information was not disclosed.
“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.”
“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,” added Marc Doyle, chief operating officer, DowDuPont Specialty Products division. “We wish DSS continued success as they chart their future.”