SK Capital to Acquire the Antioxidant and UV Stabilizer Solutions Business of Chemtura Corporation
NEW YORK - (BUSINESS WIRE) - SK Capital Partners, a U.S.-based private investment firm, announced today that it has signed a asset purchase agreement to acquire the Antioxidant and UV Stabilizer Solutions business of Chemtura Corporation (NYSE/EuroNext Paris: CHMT). The business is a leading global supplier of a comprehensive portfolio of additives including antioxidants, antiozonants, intermediates and inhibitors, polymer modifiers, and UV stabilizers used by customers to improve the production and performance properties of polymers, rubbers and plastics. The transaction is valued at approximately $200 million.
With a disciplined focus on the specialty materials, chemicals and healthcare sectors, SK Capital has significant relevant experience gained through both previous and current portfolio companies in the polymers, plastics and associated additives sectors, as well as deep knowledge of the end markets served by the business. The acquisition is consistent with SK Capital's strategy of acquiring niche market leaders with strong brands, technologies and underlying growth trends and actively supporting management in building thriving businesses with sustainable competitive advantages.
Barry Siadat, a Managing Director of SK Capital, noted, "With its unique pedigree resulting from the merger of three leading polymer additives companies, we believe the business is an attractive platform with significant growth and performance improvement potential. We intend to enhance the business' focus on delighting customers through service, product and technology leadership. The growth of synthetic polymers and their increased global usage in a variety of applications presents a substantial opportunity for the business."
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