M&A Deal Summary

SK Capital Partners Acquires GEON

On August 19, 2019, private equity firm SK Capital Partners acquired plastics company GEON from Avient for 775M USD

Acquisition Highlights
  • This is SK Capital Partners’ 1st transaction in the Plastics sector.
  • This is SK Capital Partners’ 4th largest (disclosed) transaction.
  • This is SK Capital Partners’ 14th transaction in the United States.
  • This is SK Capital Partners’ 1st transaction in Ohio.

M&A Deal Summary

Date 2019-08-19
Target GEON
Sector Plastics
Buyer(s) SK Capital Partners
Sellers(s) Avient
Deal Type Divestiture
Deal Value 775M USD

Target

GEON

Westlake, Ohio, United States
GEON is a provider of formulated PVC and polypropylene-based solutions, as well as contract manufacturing services, primarily serving the North American Construction and Automotive end markets. GEON is based in Westlake, Ohio.

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Buyer(S) 1

Buyer

SK Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


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 21 of 40
Sector (Plastics) 1 of 1
Type (Divestiture) 10 of 16
State (Ohio) 1 of 3
Country (United States) 14 of 27
Year (2019) 2 of 2
Size (of disclosed) 4 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-23 VanDeMark

Lockport, New York, United States

VanDeMark is a provider of specialty and custom chemicals focusing on phosgene production and phosgene-related chemistry. These products are used in pharmaceuticals, agricultural chemicals, polymers, sealants, coatings, and biocides. VanDeMark was founded in 1951 and is based in Lockport, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-21 Techmer PM

Clinton, Tennessee, United States

Techmer PM is a materials design company that specializes in modifying and fine-tuning the properties of technical polymers. The company thrives on partnering and collaborating with plastics processors, fabricators, designers, specifiers, and brand owners. It operates seven North American plants and has extensive expertise in virtually every plastic- and fiber-related process, from additive manufacturing and blown film to nonwovens, injection molding, and sheet extrusion. Techmer PM was founded in 1981 and is based in Clinton, Tennessee.

Buy -

Seller(S) 1

SELLER

Avient

Avon Lake, Ohio, United States

Category Company
Founded 1885
Sector Plastics
Employees9,300
Revenue 3.1B USD (2023)
DESCRIPTION

Avient is a provider of specialized polymer materials, services and solutions. Avient was incorporated in 1885 and is based in Avon Lake, Ohio.


DEAL STATS #
Overall 4 of 5
Sector (Plastics) 2 of 2
Type (Divestiture) 4 of 5
State (Ohio) 1 of 1
Country (United States) 4 of 5
Year (2019) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-02 Fiber-Line

Hatfield, Pennsylvania, United States

Fiber-Line, Inc. is a manufacturer of high-performance, coated fibers. Fiber-Line takes raw fiber and applies proprietary, innovative coatings in a specialized manufacturing process (which includes twisting, winding and splicing) to enhance the performance characteristics of the fiber for use in a variety of industries, including fiber optics, oil & gas, composites and industrial. Fiber-Line, Inc. was founded in 1987 and is based in Hatfield, Pennsylvania.

Buy $120M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-19 Clariant AG - Masterbatches Business

Muttenz, Switzerland

Clariant's Masterbatches Business provides color and additive concentrates and performance solutions for plastics. Clariant’s Masterbatches help to enhance the market appeal or end-use performance of plastic products, packaging or fibers.

Buy $1.6B