SK Capital acquire Polyone’s performance products & solutions biz

SK Capital to acquire Polyone’s performance products & solutions biz

6:33 AM, 20th August 2019
SK Capital logo

NEW YORK, US: SK Capital has signed a definitive agreement to acquire the Performance Products & Solutions business (PP&S) from PolyOne Corporation in a transaction valued at approximately $775 million.

PP&S is a global leader in plastic compounded solutions, comprised of Geon Performance Materials, the preeminent brand in polyvinyl chloride compounds with a reputation for innovation, and Producer Services, which offers a broad range of formulated polypropylene and thermoplastic polyolefin products and contract manufacturing services. PP&S operates twelve manufacturing locations across both North America and Asia and employs approximately 1,100 people.

The transaction is expected to close in the fourth quarter of 2019. Latham & Watkins LLP acted as legal counsel to SK Capital and committed debt financing was provided by Cerberus Business Finance, LLC.

“PP&S is a market leader with a rich heritage in the PVC and polypropylene compounding industry. We are excited about the opportunity to further strengthen the business through both growth and improvement initiatives, similar to how we’ve approached several other investments that were corporate carveouts,” said Jack Norris, a Managing Director of SK Capital.

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