SK Capital completes two exits

Private investment firm SK Capital Partners has completed two previously announced sales in successive order: of Noramco, Extractas Biosciences, and Purisys from the Noramco Group to Siegfried; and of Phoenix Flavors & Fragrances to Turpaz Industries. Terms were not disclosed in either transaction.

SK Capital is retaining ownership of Halo Pharmaceuticals, which has sterile-fill-finish and controlled substance production capabilities in the US and Canada respectively and will bring online a sterile injectable manufacturing in 2H. Noramco CEO Lee Karras and CFO Alan Majewski will remain with Halo.

Phoenix, which is based in Norwood, New York, makes speciality fragrance, flavour and natural ingredients for the food and beverage, personal care and industrial sectors. Its new owner, Turpaz, already owns a portfolio of companies in the flavours and fragrances sector in North America. CEO Karen Khazon said that Phoenix is “a strong strategic fit with our organisation”.