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SK Capital Partners to Take Over SI Group

Published on 2018-06-26. Author : SpecialChem

SK Capital Partners has announced an agreement to acquire SI Group. Headquartered in Schenectady, New York, SI Group operates 20 manufacturing facilities on five continents with more than $1 billion in annual sales and over 2,800 employees worldwide.

SK Capital to Combine SI Group and Addivant


SI Group Acquisition
SK Capital Partners to Take Over SI Group
SI Group is being acquired from the descendants of W. Howard Wright, who founded the company in 1906. At the close of the transaction, SK Capital will combine SI Group and Addivant to improve the production and performance properties of polymers, plastics and rubbers. SK Capital has owned Addivant since 2013.

SI Group - Excellent Fit with Technologies of SK Capital


Barry Siadat, a co-founder and Managing Director of SK Capital, noted, “We are excited that SI Group will be joining the SK Capital portfolio of chemicals and pharmaceuticals businesses. SI Group has an excellent fit with the technologies and end markets of several SK Capital businesses, including Addivant in additives, Noramco in the area of pain management pharmaceuticals, and TPC Group in building block chemicals for certain SI Group products.”

These technology and market connections will enhance and accelerate the continued growth and transformation of SI Group. Additionally, by combining the complementary strengths of SI Group and Addivant, we will be creating a global technology and industry leader in plastic, lubricant, oilfield and rubber additives.

SK Capital is a firm known for its sound business practices, deep industry experience, and impressive portfolio of companies in the chemicals sector,” said Wallace A. Graham, Chairman of SI Group. “We are thrilled by the prospect of SI Group joining SK Capital, as it will enhance the company’s performance additives and intermediates business in the plastic, oil and gas, pharmaceutical and rubber sectors. We expect to see great things in the years ahead.”

The transaction is expected to close in the second half of 2018. Latham & Watkins LLP acted as legal counsel to SK Capital and committed debt financing was provided by JPMorgan Chase Bank, N.A., HSBC Securities (USA) Inc., Deutsche Bank Securities Inc. and Bank of America, N.A. Baker Botts LLP and HSBC Securities (USA) Inc. acted as legal counsel and exclusive financial advisor, respectively, to SI Group.


Source: SK Capital Partners
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