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SK Capital Completes the Sale of NuCera Solutions to Chase Corporation
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Rhea-AI Sentiment
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Rhea-AI Summary
An affiliate of SK Capital Partners announced the sale of NuCera Solutions to Chase Corporation (NYSE American: CCF) for $250 million, excluding acquisition-related costs. The deal signifies a strategic transition for NuCera, which specializes in specialty polymers and polymerization technologies. Under SK Capital's ownership, NuCera established itself as a market leader through a strong leadership team and global commercial strategy, contributing to its growth. The acquisition aligns with Chase Corporation's focus on protective materials for high-reliability applications, enhancing its capabilities in the specialty chemicals sector.
Positive
NuCera acquired by Chase Corporation for $250 million, indicating strong market confidence.
NuCera established as a market leader under SK Capital's ownership, contributing to its growth.
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HOUSTON--(BUSINESS WIRE)--
An affiliate of funds advised by SK Capital Partners, LP (“SK Capital”) announced today that it has completed the sale of NuCera Solutions (“NuCera” or the “Company”) to Chase Corporation (NYSE American: CCF), a leading manufacturer of protective materials for high reliability applications. NuCera was acquired for a purchase price of $250.0 million, pending any working capital adjustments and excluding acquisition-related costs.
“On behalf of SK Capital, we would like to congratulate the NuCera and Chase Corporation teams. The completion of the transaction represents a positive outcome for all stakeholders involved and we wish both parties continued success,” said Mario Toukan, Managing Director of SK Capital.
Formed through the carve-out of Baker Hughes’ specialty polymer business, NuCera is a recognized leader in the production and development of specialty polymers and polymerization technologies that serve as mission critical performance additives in demanding applications globally. The Company operates globally with headquarters in Houston, Texas, a primary production facility in Barnsdall, Oklahoma, and international sales offices in France and Singapore.
Following the carve-out of NuCera, SK Capital successfully established NuCera as a standalone market leader, growing the business through the development of a targeted global commercial strategy which resulted in a multitude of new business wins.
“Under SK Capital’s ownership, the success of NuCera was due in large part to the build-out of a strong leadership team and broader organization, which helped create a market leader well-positioned to continue its growth,” added Jonathan Borell, Managing Director of SK Capital.
About SK Capital
SK Capital is a private investment firm with a disciplined focus on the specialty materials, specialty chemicals, and pharmaceuticals sectors. The firm seeks to build strong and growing businesses that create substantial long-term economic value. SK Capital aims to utilize its industry, operating, and investment experience to identify opportunities to transform businesses into higher performing organizations with improved strategic positioning, growth, and profitability, as well as lower operating risk. SK Capital’s portfolio of businesses generates revenues of approximately $16 billion annually, employs more than 20,000 people globally, and operates 203 plants in 32 countries. The firm currently has approximately $6.6 billion of assets under management. For more information, please visit www.skcapitalpartners.com.
About NuCera Solutions
With an 85-year history of innovative chemistry, NuCera is a global leader and pioneer in the development and manufacture of highly differentiated specialty polymers and polymerization technologies for markets that require high quality and performance: Adhesives, Coatings, Imaging, Masterbatches, Personal Care, Plastics and other consumer applications. NuCera supplies performance chemistry to global markets from its highly flexible manufacturing facilities in Barnsdall, OK, which are supported by R&D and applications laboratories as well as pilot plant facilities. For more information, please visit www.nucerasolutions.com.
About Chase Corporation
Chase Corporation, a global specialty chemicals company that was founded in 1946, is a leading manufacturer of protective materials for high-reliability applications throughout the world. More information can be found on our website https://chasecorp.com/.
