Private equity major HIG Capital has agreed to sell Valtris Specialty Chemicals to SK Capital Partners.
HIG carved out Valtris from Ferro Corp in 2014, before expanding the specialty polymer additives and chemicals business through the acquisition of Akcros Chemicals in the US and UK in 2016 and multiple INEOS Enterprises business units in France, Belgium and the Netherlands in 2018.
The company’s products impart critical performance characteristics, including flexibility, stability processability, and flame retardance, to plastics and other materials.
Lazard Middle Market was lead financial advisor to HIG, and McDermott Will & Emery served as legal advisor to HIG and Valtris Specialty Chemicals in connection with the transaction. The deal is expected to close in Q3 2022.
Last month HIG bought speciality paper business Pixelle from US private equity major Lindsay Goldberg.
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