On June 1, SK Capital Partners, a private equity investment company, announced that it was acquiring SI Group and planned to integrate SI Group with its Addivant business. This transaction will create a large plastic additive company.
SK Capital said that by combining the complementary advantages of SI Group and Addivant, SK will create a global technology and industry leader in the fields of plastics, lubricants, oil and rubber additives. The transaction did not disclose the purchase price and is expected to be completed in the second half of 2018.
SK Capital Partners: a private investment company focusing on special materials, chemicals and pharmaceutical industries. SK is headquartered in Schenectady, New York. Its product line includes plasticizers, flame retardants and antioxidants. Its annual sales exceed $1 billion and employs more than 2800 employees in 20 locations around the world. In 2013, SK acquired the antioxidant and light stabilizer business of Chemtura corp. in 2012, and established Addivant in 2013. Addivant has an annual sales volume of more than US $500 million and employs more than 500 employees in 11 factories around the world.
Addivant is the world's leading provider of solutions for antioxidants, intermediates and inhibitors, polymer modifiers and ultraviolet stabilizers, but its business development has been sluggish in the past two years.