M&A Deal Summary

SK Capital Partners and HarbourVest Partners Acquire Perimeter Solutions

On December 8, 2017, private equity firms SK Capital Partners and HarbourVest Partners acquired chemicals company Perimeter Solutions from ICL Group for 1.0B USD

Acquisition Highlights
  • This is SK Capital Partners’ 11th and HarbourVest Partners’ 4th transaction in the Chemicals sector.
  • This is SK Capital Partners’ and HarbourVest Partners’ 39th largest (disclosed) transaction.
  • This is SK Capital Partners’ 11th and HarbourVest Partners’ 101st transaction in the United States.
  • This is SK Capital Partners’ 1st and HarbourVest Partners’ 1st transaction in Missouri.
Investment Fate
  • Perimeter Solutions was sold to a publicly-traded strategic buyer in 2021 for 2.0B USD.

M&A Deal Summary

Date 2017-12-08
Target Perimeter Solutions
Sector Chemicals
Buyer(s) SK Capital Partners
HarbourVest Partners
Sellers(s) ICL Group
Deal Type Divestiture
Deal Value 1.0B USD

Target

Perimeter Solutions

Clayton, Missouri, United States
Perimeter Solutions is a manufacturer of firefighting chemicals and lubricant additives. The Fire Safety business includes formulation and manufacturing of fire management products along with services and pre-treatment solutions for managing wildland, military, industrial and municipal fires. Perimeter Solutions was established in 2018 and is based in Clayton, Missouri.

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Buyer(S) 2

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 18 of 45
Sector: Chemicals M&A 11 of 21
Type: Divestiture M&A Deals 9 of 17
State: Missouri M&A 1 of 1
Country: United States M&A 11 of 28
Year: 2017 M&A 5 of 5
Size (of disclosed) 1 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-11 Wavelength Pharmaceuticals

Petah Tikva, Israel

Wavelength Pharmaceuticals is a developer and manufacturer of generic APIs and finished dose forms (“FDF”) with operations primarily located in Israel and supporting functions in the U.S. and India. The Business has a global customer base and a broad array of products that leverage its specialized manufacturing capabilities and core competency in complex chemistries. Wavelength Pharmaceuticals is based in Petah Tikva, Israel.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-01 Addivant

Danbury, Connecticut, United States

Addivant is a provider of a comprehensive portfolio of additives including antioxidants, antiozonants, inhibitors, polymer modifiers and UV stabilizers used by customers to improve the production and performance properties of polymers, plastics and rubbers. Addivant is headquartered in Connecticut and maintains a global footprint with 11 plants on five continents.

Sell -
Buyer

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1978
PE ASSETS 147.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.


DEAL STATS #
Overall 168 of 214
Sector: Chemicals M&A 4 of 6
Type: Divestiture M&A Deals 11 of 14
State: Missouri M&A 1 of 1
Country: United States M&A 101 of 130
Year: 2017 M&A 16 of 16
Size (of disclosed) 39 of 61
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-07 Advance Health

Chantilly, Virginia, United States

Advance Health is a healthcare provider of prospective health risk assessments (“HRAs”). Advance Health offers in-home and facility-based HRAs and chronic care management services for health plans. Advance Health was founded in 2010 and is based in Chantilly, Virginia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-01 Smart City

Las Vegas, Nevada, United States

Smart City is a provider of quality, advanced technology and telecommunication services to the convention, trade show, and event industry. Smart City is based in Las Vegas, Nevada.

Buy -

Seller(S) 1

SELLER

ICL Group

Tel Aviv, Israel

Category Company
Founded 1968
Sector Chemicals
Employees12,000
Revenue 6.8B USD (2024)
DESCRIPTION

ICL Group is a manufacturer of products based on specialty minerals that fulfill humanity's essential needs primarily in three markets: agriculture, food and engineered materials. ICL Group was founded in 1968 and is based in Tel Aviv, Israel.


DEAL STATS #
Overall 5 of 5
Sector: Chemicals M&A 3 of 3
Type: Divestiture M&A Deals 5 of 5
State: Missouri M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2017 M&A 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-02 Clearon

Charleston, West Virginia, United States

Clearon Corp. is a manufacturer and supplier of water treatment chemicals for the pool and spa industry.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-19 Growers Holdings

Durham, North Carolina, United States

Growers Holdings, Inc. is a provider in the field of process and data-driven farming. Growers' agronomic services platform enhances decision-making capabilities for farmers, agronomists, and other agro-professionals by creating easily adaptable and executable data-driven recommendations. Growers Holdings was established in 2011 and is based in Durham, North Carolina.

Buy -