Techmer PM, a designer and producer of engineered compounds and colour and additive concentrates for the plastics and fibre industries, has formed a strategic partnership with an affiliate of New York-based private investment firm SK Capital Partners.SK Capital, which manages a growing portfolio of companies focused on the specialty materials, chemicals, and pharmaceuticals sectors, is acquiring a majority interest in the firm and will recapitalise Techmer in partnership with its chairman and CEO, John Manuck, who will continue to retain a significant ownership stake in the company. Terms of the deal were not announced.
Privately held since being founded by Manuck in 1981, Techmer PM is a leading developer and manufacturer of custom colour and additive masterbatch solutions and specialises in modifying the appearance and properties of base polymers. It serves customers across a diverse set of global markets, including agriculture, automotive, aerospace, building and construction, consumer products, medical, material handling, non-wovens, rigid packaging, and textile markets, as well as many OEMs.
Techmer PM — which counts among its collaboration partners leading brand owners as well as organissaysations such as Oak Ridge National Laboratory and NASA — has taken a leading role in developing innovative materials and reinforcements for use in fast-growing technologies such as composites and additive manufacturing.
“John and his team have built a tremendously successful platform with an industry-wide reputation for innovation, customer service, and quality,” said Mario Toukan, managing director of SK Capital. “We look forward to partnering with the Techmer PM team to continue to serve its customer base and expand the platform’s reach and capabilities.”
Techmer PM operates seven manufacturing plants in North America and employs more than 600 people. In late 2017, the company opened its first plant outside the United States, in Querétaro, Mexico, which is an important step that reflects Techmer PM’s long history of serving key global customers.
“Techmer is taking this step with SK to satisfy growing demands from brand owners and international clients who want to see the company expand its footprint to allow it to better serve customers no matter where they are in the world,” says Manuck.
“After careful and diligent consideration, we have chosen to partner with SK Capital, which shares Techmer’s core values while bringing significant resources to bear in our new relationship,” says Manuck. “SK is committed to helping Techmer grow our business globally, while continuing to feed our insatiable drive to innovate and advance the greater cause of sustainability.”
Jon Borell, a managing director of SK Capital, adds: “Techmer PM fits squarely within our strategy of investing in niche market leaders in partnership with visionary entrepreneurs. The specialty materials sector is an area where we have deep expertise through a number of our existing portfolio companies, and we are excited to leverage our resources to further strengthen the business.”
Kirkland & Ellis LLP acted as legal counsel to SK Capital, and committed debt financing was provided by Cerberus Business Finance LLC. Pillsbury Winthrop Shaw LLP acted as legal counsel to Techmer PM.
