Investment Summary

One Equity Partners Exits Sonneborn

On November 13, 2018, HF Sinclair invested in chemicals company Sonneborn from One Equity Partners for 655M USD

Investment Highlights
  • This is HF Sinclair’s 1st transaction in the Chemicals sector.
  • This is HF Sinclair’s 3rd largest (disclosed) transaction.
  • This is HF Sinclair’s 1st transaction in the United States.
  • This is HF Sinclair’s 1st transaction in New Jersey.

Investment Summary

Date 2018-11-13
Target Sonneborn
Sector Chemicals
Investor(s) HF Sinclair
Sellers(s) One Equity Partners
Deal Type Add-on Acquisition
Deal Value 655M USD

Target

Sonneborn

Parsippany, New Jersey, United States
Sonneborn LLC is a provider of white oils, petrolatums, waxes, and other hydrocarbon specialty products such as creams and lotions, cosmetics, and pharmaceutical ointments. Sonneborn is based in Parsippany, New Jersey.

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Investor(S) 1

Investor

HF Sinclair

Dallas, Texas, United States

Category Company
Founded 1947
Sector Oil/Gas Exploration
Employees5,297
Revenue 28.6B USD (2024)
DESCRIPTION

HF Sinclair is an independent energy company that produces and markets high-value light products such as gasoline, diesel fuel, jet fuel, renewable diesel and other specialty products. HF Sinclair was incorporated in 1947 and is based in Dallas, Texas.


DEAL STATS #
Overall 2 of 6
Sector: Chemicals M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 4
State: New Jersey M&A 1 of 1
Country: United States M&A 1 of 5
Year: 2018 M&A 1 of 1
Size (of disclosed) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-31 Suncor Energy - Petro-Canada Lubricants Business

Mississauga, Ontario, Canada

The Petro-Canada Lubricants plant, located in Mississauga, Ontario is the largest producer of base oils in Canada with 15,600 barrels per day of lubricant production capacity, and is the only North American producer of high margin Group III base oils. The facility is downstream integrated from base oils to finished lubricants and produces a broad spectrum of specialty lubricants and white oils which are distributed to end customers worldwide. The Petro-Canada Lubricants business will bring HollyFrontier industry leading product innovation and R&D capabilities, a global sales and distribution network and strong brand portfolio recognized globally.

Buy CA$1.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-04 Shell Puget Sound Refinery

Anacortes, Washington, United States

Shell Puget Sound Refinery is an on-site cogeneration facility that produces oil 149,000 barrels per day. Shell Puget Sound Refinery part of Washington’s Skagit County community where generations of area residents have found jobs, built careers, supported families, and strengthened their communities. PSR’s more than 600 employees and contractors work in a safe and environmentally responsible way to deliver the fuel that powers community and economic life in the Pacific Northwest. Shell Puget Sound Refinery is based in Anacortes, Washington.

Buy $350M

Seller(S) 1

SELLER

One Equity Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2001
PE ASSETS 10.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

One Equity Partners (OEP) is a private equity firm that targets buyout and growth capital investments in North America, Europe, and Asia. OEP prefers to be the lead investor and typically commits $30 to $150 million per transaction. Sectors of interest include industrial products/services, consumer, retail, chemicals, media, communications, and healthcare. One Equity Partners was formed in 2001 and spun out of JP Morgan Chase in 2015. One Equity Partners is based in New York, New York.


DEAL STATS #
Overall 37 of 67
Sector: Chemicals M&A 5 of 5
Type: Add-on Acquisition M&A Deals 24 of 37
State: New Jersey M&A 2 of 3
Country: United States M&A 25 of 45
Year: 2018 M&A 3 of 3
Size (of disclosed) 11 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-08 PeroxyChem

Philadelphia, Pennsylvania, United States

PeroxyChem LLC is a provider in peroxygen and adjacent chemistries with facilities in North America, Europe, and Asia. PeroxyChem manufactures high-quality products and innovative applications developed as a result of ingenuity and technical expertise. PeroxyChem LLC is based in Philadelphia, Pennsylvania.

Sell $625M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-06 Walterscheid Powertrain Group

Lohmar, Germany

Walterscheid Powertrain Group is a provider of original equipment and aftermarket parts and services for off-highway powertrain applications. Walterscheid Powertrain Group was founded in 1919 and is based in Lohmar, Germany.

Buy -