M&A Deal Summary

SK Capital Partners and HarbourVest Partners Acquire SI Group

On June 1, 2018, private equity firms SK Capital Partners and HarbourVest Partners acquired chemicals company SI Group

Acquisition Highlights
  • This is SK Capital Partners’ 12th and HarbourVest Partners’ 5th transaction in the Chemicals sector.
  • This is SK Capital Partners’ 12th and HarbourVest Partners’ 107th transaction in the United States.
  • This is SK Capital Partners’ 5th and HarbourVest Partners’ 17th transaction in Texas.

M&A Deal Summary
Date 2018-06-01
Target SI Group
Sector Chemicals
Buyer(s) SK Capital Partners
HarbourVest Partners
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) HSBC Global Banking and Markets (Financial)
Baker Botts (Legal)

Target

SI Group

The Woodlands, Texas, United States
SI Group is a developer and manufacturer of performance additives and intermediates solutions for industrial and consumer goods. SI Group was founded in 1906 and is based in The Woodlands, Texas.

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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 19 of 40
Sector (Chemicals) 12 of 21
Type (Buyout (LBO, MBO, MBI)) 3 of 6
State (Texas) 5 of 6
Country (United States) 12 of 27
Year (2018) 1 of 1
PREVIOUS 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 -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-23 Cambrex Drug Product- Business Unit

Whippany, New Jersey, United States

Cambrex Drug Product's Business Unit is a technology-focused contract manufacturing business with differentiated applications and capabilities in solid, semi-solid and liquid dosage forms, with a particular focus on controlled substances. Cambrex Drug Product's Business Unit was established in 2006 and is based in Whippany, New Jersey.

Sell $425M
Buyer

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1978
PE ASSETS 86.0B 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 178 of 223
Sector (Chemicals) 5 of 6
Type (Buyout (LBO, MBO, MBI)) 39 of 41
State (Texas) 17 of 21
Country (United States) 107 of 134
Year (2018) 11 of 25
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-01 PureStar

Las Vegas, Nevada, United States

PureStar is a commercial linen management services provider dedicated to the hospitality industry. PureStar boasts 11 brands with 30 full-service laundries across 3 countries and 25 U.S. markets. PureStar is based in Las Vegas, Nevada.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-26 Personify

Austin, Texas, United States

Personify is a provider of software solutions for member-focused organizations. Personify offers products and services that enable organizations to acquire, engage and optimize relationships with their constituents. Personify captures and provides insight across all constituent interactions, allowing associations and nonprofit organizations to drive productivity and maximize revenue. Personify was founded in 1996 and is based in Austin, Texas.

Buy -
Mergr

Product

Company

Legal