Former Nexeo Solutions President David Bradley will become president and CEO of plastics additives giant SI Group.
The move will be effective March 18, officials with Schenectady, N.Y.-based SI said in a news release. Bradley will replace David Mezzanotte, who had held the CEO role on an interim basis. Mezzanotte is a director at SI owner SK Capital Partners of New York.
Bradley "has a proven track record in the chemical industry with decades of experience leading both public and private companies," SK founder and Managing Director Barry Siadat said in the release. "This is the perfect time for a new leader to take the helm of SI Group."
He added that Bradley's "strong leadership, deep understanding of SI Group's markets, and industry experience is exactly what is needed for the next chapter of the company's growth."
In the release, Bradley said that he was "honored and excited to lead SI Group, which has tremendous potential for higher growth and profitability."
"I look forward to leveraging the company's unique product portfolio, global manufacturing base, and exceptional talent in executing our growth strategy," he added.
Bradley had served as president and CEO of Nexeo, a major distributor of plastic resins and specialty chemicals based in The Woodlands, Texas, since 2011. Nexeo was acquired in September for $1.8 billion by chemicals distributor Univar Inc. of Downers Grove, Ill. Univar then in February sold Nexeo's resin distribution unit for $640 million to private equity firm One Rock Capital Partners LLC.
Prior to Nexeo, Bradley spent seven years with Kraton Performance Polymers after beginning his career with GE Plastics.
SI employs more than 3,000 at more than 30 manufacturing sites worldwide. The firm has annual sales of around $2 billion. Its product lines include plasticizers, flame retardants, antioxidants and light-stabilizers. In addition to plastics additives, SI makes process solutions, pharmaceuticals and chemical intermediates.
In May, SI was acquired by SK Capital, which merged it with its own Addivant business. SK Capital bought SI from the family of W. Howard Wright, a former GE chemist who founded the firm in 1906. Wright, who worked with Thomas Edison while at GE, set up Schenectady Varnish Co. to supply that material to GE plants in the area.
SK Capital had formed Addivant in 2013 after acquiring the antioxidant and light-stabilizer business of Chemtura Corp. for almost $200 million.