M&A Deal Summary

SK Capital Partners Acquires Ascend Performance Materials

On April 1, 2009, private equity firm SK Capital Partners acquired chemicals company Ascend Performance Materials from Solutia

Acquisition Highlights
  • This is SK Capital Partners’ 1st transaction in the Chemicals sector.
  • This is SK Capital Partners’ 2nd transaction in the United States.
  • This is SK Capital Partners’ 1st transaction in Texas.

M&A Deal Summary

Date 2009-04-01
Target Ascend Performance Materials
Sector Chemicals
Buyer(s) SK Capital Partners
Sellers(s) Solutia
Deal Type Divestiture

Target

Ascend Performance Materials

Houston, Texas, United States
website
Ascend Performance Materials is a provider of proprietary technologies that are central to the production of nylon, plastics, and synthetic fibers found in thousands of commercial and industrial products, including carpet, tires and apparel, as well as agricultural products, animal feed, and personal care products. Ascend Performance Materials was founded in 2009 and is based in Houston, Texas.

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Buyer(S) 1

Buyer

SK Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2007
PE ASSETS 4.9B USD
Size Large
Type Sector Agnostic
DESCRIPTION

SK Capital Partners is a private investor in mature and middle-market companies located throughout North America. SK Capital focuses on companies with opportunities for substantial business improvement and strong growth prospects. The Firm looks to invest $100 to $200 million of equity in transactions valued up to $500 million. Prospective businesses typically generate $50 to $500 million in revenues and at least $100 million in EBITDA. Areas of interest include specialty materials, chemicals and healthcare. The Firm will consider a variety of transaction situations, including buyouts, recapitalizations, growth equity financings, and corporate carve-outs. SK Capital Partners was spun out of Arsenal Capital Partners and became independent in 2007. SK Capital Partners is based in New York City.


DEAL STATS #
Overall 3 of 39
Sector (Chemicals) 1 of 21
Type (Divestiture) 2 of 15
State (Texas) 1 of 6
Country (United States) 2 of 26
Year (2009) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-04-03 Aristech Acrylics

Florence, Kentucky, United States

Aristech Acrylics, headquartered in Florence, KY, is the leading North American manufacturer of acrylic sheeting for such applications as bath surfaces, showers, signs, counter top materials marketed under the brand name Avonite(R), and other solid surfaces. Because of the many advantages of Aristech's acrylic composite sheets, including their durability, versatility and sanitary features, the company is currently developing new products for use in other industries including the marine, automotive and recreational sectors. Acrylic sheet is one of the most widely used specialty plastics available.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-03 Calabrian

Port Neches, Texas, United States

Calabrian Corp. is a provider of sulfur dioxide and related derivatives used in wastewater treatment and other applications. The Company manufactures sulfur dioxide and downstream derivatives such as sodium sulfite, sodium bisulfite, sodium metabisulfite and sodium thiosulfate in its integrated manufacturing facility in Port Neches, TX. Its products are used in a broad range of industrial and municipal wastewater treatment applications to achieve compliance with federal and local water regulations, as well as other specialty applications in mining, personal care, pulp and paper processing, food preservation, oilfield production and disinfection.

Buy -

Seller(S) 1

SELLER

Solutia

St Louis, Missouri, United States

website


Category Company
Founded 1901
Sector Chemicals
Employees3,400
DESCRIPTION

Solutia is a market-leading performance materials and specialty chemicals company. The company focuses on providing solutions for a better life through a range of products, including: Saflex® polyvinyl butyral interlayers for glass lamination and for photovoltaic module encapsulation and VISTASOLAR® ethylene vinyl acetate films for photovoltaic module encapsulation.


DEAL STATS #
Overall 3 of 4
Sector (Chemicals) 2 of 3
Type (Divestiture) 3 of 4
State (Texas) 1 of 1
Country (United States) 3 of 4
Year (2009) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-01-01 Solutia - Resins Additives and Adhesives Division

St Louis, Missouri, United States

Solutia, Inc. liquid and powder-coatings resins, additives, and adhesives products used primarily in industrial coatings, with an emphasis on the metal and automotive segments.

Sell $500M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-11-08 Solutia - Flexsys

United States

Solutia, Inc. - Flexsys is a manufacturer and suppler of market leading, differentiated, high-quality rubber chemicals and specialty fluids.

Sell -