SK Capital buys two more
SK Capital Partners has made two further acquisitions in May, buying SK Capital Partners from Miami-based investment firm HIG Capital in a deal that is expected to close in Q3 subject to customary closing conditions, and Florachem from an affiliate of Carmelina Capital. Terms were not disclosed in either deal.
Valtris, which is headquartered in Independence, Ohio, has nine manufacturing facilities worldwide. It makes speciality additives and chemicals that impart including flexibility, stability, processability and flame retardance to plastics and other materials.
HIG created Valtris by means of a carve-out from Ferro in late 2014. Since then, Valtris has expanded via the acquisition of Akcros Chemicals in the US and UK in 2016 and multiple Ineos business units in France, Belgium, and the Netherlands in 2018. Together with organic growth, it has tripled its EBITDA under HIG’s ownership.
Florachem is based in Jacksonville, Florida, and offers natural plant-based ingredients including citrus, pine, and speciality rosin resins, mainly for uses in flavours and fragrances personal care, coatings, adhesives and general industrial applications. It is in the process of completing the construction of a food-grade manufacturing facility that will expand both capacity and capabilities.