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SK Capital to Acquire SI Group to Strengthen Position on Specialty Materials Industry
Tuesday 05 June 2018

5 June 2018 - Combination with Addivant to New York, US-based private investment fund SK Capital Partners has agreed to acquire New York-based performance additives developer SI Group, to create a global leader in plastic, lubricant, oilfield and rubber additives, the company said.
SI Group is being acquired from the descendants of W. Howard Wright, who founded the company in 1906.
Terms of the transaction were not disclosed. The transaction is expected to close in the second half of 2018.
At the close of the transaction, SK Capital will combine SI Group and Addivant, a leading global supplier of additives including antioxidants, antiozonants, inhibitors, polymer modifiers and UV stabilisers used by customers to improve the production and performance properties of polymers, plastics and rubbers. SK Capital has owned Addivant since 2013.
SK Capital is focussed on the specialty materials, chemicals and pharmaceuticals sectors. The firm seeks to build strong and growing businesses that create substantial long-term economic value.
SI Group operates 20 manufacturing facilities on five continents with more than USD 1.0bn in annual sales, and over 2,800 employees worldwide.
Latham and Watkins LLP acted as legal counsel to SK Capital and committed debt financing was provided by JPMorgan Chase Bank, N.A., HSBC Securities Inc., Deutsche Bank Securities Inc. and Bank of America, N.A. Baker Botts LLP and HSBC Securities Inc. acted as legal counsel and exclusive financial advisor, respectively, to SI Group.
Date Published: 05/06/2018
Target: SI group
Country: USA
Sector: Chemicals
Type: LBO
Status: Agreed
Vendor: W. Howard Wright
Buyer: SK Capital Partners
Buyer Advisor: Latham and Watkins
Terms of the deal were not disclosed