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.

© Worldofchemicals News

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


McDermott begins commercial operation of Cameron LNG Train 1

HOUSTON, US: McDermott International Inc has begun commercial operation with Train 1 by joint owners Sempra LNG, LLC, Total, Mitsui & Co Ltd and J ...

Read more
BASF becomes founding member of value balancing alliance e.V.

LUDWIGSHAFEN, GERMANY: Together with seven international companies of the recently founded “value balancing alliance e.V.”, based in Frank ...

Read more
Covestro partners with industry and university in wind energy project

LEVERKUSEN, GERMANY: The wind energy industry dreams of developing maintenance-free systems. One important hurdle on the path to achieving this goal i ...

Read more
SII introduces first-ever heat-stable Rotavirus vaccine in the world, Rotasiil

PUNE, INDIA: In a landmark development, the world's largest vaccine manufacturer by number of doses produced and sold globally (more than 1.5 billion ...

Read more
PET bottles do not leach cancerous chemicals: CSIR

MUMBAI, INDIA: Water stored in PET bottles does not cause endocrine disruption, the Council of Scientific & Industrial Research (CSIR) has said in ...

Read more
Rain Carbon starts €60 mn hydrocarbon resins plant in Germany

STAMFORD, US: Rain Carbon Inc has initiated the phased start-up of its hydrogenated hydrocarbon resins production facility in Castrop-Rauxel, Germany. ...

Read more
www.worldofchemicals.com uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X