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SK Capital

SK Capital invests into VanDeMark

SK Capital Partners have made an investment in VanDeMark Chemical in partnership with Comvest Partners, which has been a co-owner since 2019. The amount involved was not disclosed but VanDeMark said that this would “serve as a catalyst for a new strategic direction as the company seeks to deepen and expand its presence in fine chemistries for the global life science market”.

VanDeMark is headquartered in Lockport, New York (pictured), with another facility in Kazincbarcika, Hungary. It makes intermediates and derivatives for end markets including the life sciences, flavours and fragrances, electronics, polymers, coatings and personal care, with a particular capability in phosgene chemistry.

“Looking forward, we will seek to accelerate the company’s transformation with strategic investments in adjacent portfolios of fine chemistries and additional manufacturing services that can be additive to our existing customers,” stated Mario Toukan, managing director of SK Capital.

In recent weeks, SK Capital has completed the $250 million sale of protective materials firm NuCera Solutions, which had been carved out from Baker Hughes, to Chase Corporation. In addition, together with Edgewater Capital Partners, it entered exclusive negotiations to acquire the scintillation and photonic crystals business of Saint Gobain.

Among many other recent portfolio changes by SK Capital, the most significant has been the deal in August by which its Archroma business agreed to acquire Huntsman’s Textile Effects business, creating a major player in textile chemicals. This should be completed in 1H 2023.

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