SK Capital Partners, a private investment firm focussed on the specialty materials, chemicals and pharmaceuticals sectors, has completed the acquisition of SI Group, a global developer and manufacturer of performance additives and intermediates.
The transaction includes the combination of SI Group with Addivant, an SK Capital portfolio company since 2013 and a leading global producer of specialty additives.
Headquartered in Schenectady, New York, the newly combined company will market itself under the SI Group brand and will be a global technology and industry leader in performance additives, process solutions, pharmaceuticals and chemical intermediates, with strong market positions in the plastics, rubber, fuel & lubricants, oilfield and active pharmaceutical ingredients industries. Led by Frank Bozich and John Steitz, proven chemical industry leaders with over 75 years of combined expertise, SI Group will operate with a global workforce of over 3,000 employees and 30 manufacturing facilities.
SK Capital Managing Director Barry Siadat says: “The combination of SI Group and Addivant creates a global leader in the performance additives market with backward integration into key chemical intermediates. It is also expected to unlock significant earnings growth from both commercial and cost synergies.” Jack Norris, a Managing Director of SK Capital Partners, added, “In joining our portfolio of chemicals and pharmaceuticals businesses, SI Group will gain access to certain technologies and relationships to accelerate growth and bring novel solutions to the market.”
“The combination of Addivant and SI Group has resulted in a world-class organisation with significant talent, technology and assets,” says Frank Bozich, SI Group CEO. John Steitz, CEO of SI Group’s Additives segment, added, “Our combined organisation is a powerful innovation engine well-positioned to create significant value for our customers and business partners.”
