SK Capital Partners continues to invest in plastics, and now has acquired materials firm Valtris Specialty Chemicals for an undisclosed price.
New York-based SK is buying Independence, Ohio-based Valtris from investment firm HIG Capital of Miami. Valtris makes polymer additives and specialty chemicals. The firm was carved out of the former Ferro Corp. in 2014.
"It has been a pleasure to work with HIG since carving out the business from Ferro," Valtris CEO Paul Angus said in a news release. "Together, we have built a strong global leader in polymer additives that is well-positioned for robust future growth."
Valtris operates nine global manufacturing sites. Under HIG, the firm expanded its geographic reach and product portfolio through the acquisition of Akcros Chemicals in the U.S. and United Kingdom in 2016 and Ineos Enterprises business units in France, Belgium and the Netherlands in 2018. Officials said that Valtris' EBITDA tripled during HIG's ownership.
SK has made several plastics materials-related acquisitions since 2009, most recently acquiring polystyrene and specialty chemicals maker Deltech Holdings LLC of Baton Rouge, La., in August 2021. The firm's materials portfolio also includes nylon 6/6 resin leader Ascend Performance Materials of Houston; Geon Performance Solutions, a compounder of PVC and other materials based in Westlake, Ohio; Techmer PM, a specialty compounder and concentrates maker in Clinton, Tenn.; and compounder Eurostar Engineering Plastics of France.
On the packaging side, SK since early 2020 has acquired thermoformer Lacerta Group of Mansfield, Mass.; blow-fill-seal maker Catalent Pharma Solutions of Woodstock, Ill.; and Paris-based iPackchem Group, a global firm that makes packaging for crop protection and specialty chemicals.
SK's total portfolio generates sales of about $11 billion annually, employs more than 16,000 people globally and operates 153 plants in 28 countries. The firm currently has more than $5 billion of assets under management.