SK Capital Has Completed the Sale of Foremark to Affiliates of CC Industries
2024年4月25日 - 7:30PM
ビジネスワイヤ(英語)
An affiliate of funds advised by SK Capital Partners, LP (“SK
Capital”) announced today it has completed the sale of Foremark
Performance Chemicals, Inc. (“Foremark”) to affiliates of CC
Industries, Inc., which is the management company for the Crown
family’s privately-held companies.
Acquired by SK Capital in 2017, Foremark is a technology-driven
producer of patented and proprietary natural gas sweeteners,
chemical building blocks, and slow-release fertilizers.
Jack Norris, Managing Director at SK Capital, said, “SK Capital
is privileged to have partnered with Randy Owens and the entire
Foremark team. We are proud and appreciative of Foremark’s
accomplishments, having become the undisputed leader in natural gas
sweetening technologies. We believe Foremark is well-positioned to
continue this growth and flourish under the new ownership. We wish
CC Industries and all the employees of Foremark every success.”
Randy Owens, CEO of Foremark, commented, “We are proud of the
transformation of Foremark under SK Capital’s ownership. This
transaction affirms the reputation we have developed as the
industry leader in natural gas sweetening technology. I would like
to thank our employees for their dedication and commitment and SK
Capital for its support throughout its ownership period. We have
strengthened and grown the company substantially while establishing
the next phase of Foremark’s growth. We are very pleased to become
part of the CC Industries family.”
Piper Sandler and HSBC acted as financial advisors to Foremark
and King & Spalding LLP acted as legal counsel.
About Foremark
Foremark Performance Chemicals, headquartered in League City,
TX, is a technology-driven leader in natural gas sweetening
formulations and the production of chemical building blocks used in
numerous end products. Foremark leverages its sustainable
production processes to create solutions that support the
transition to clean energy and increase performance and efficiency.
The business is a leading producer of a broad portfolio of natural
gas sweeteners and formalin. Foremark operates out of a highly
automated, vertically integrated manufacturing facility in La
Porte, TX, that is strategically located on the Houston ship
channel. Foremark received the Platinum Sustainability Medal from
EcoVadis, which is awarded to the top 1% of rated companies based
on their environmental impact and sustainability program. For more
information, visit www.foremarkperformance.com.
About SK Capital
SK Capital is a private investment firm with a disciplined focus
on the specialty materials, ingredients, and life sciences sectors.
The Firm seeks to build resilient, sustainable, and growing
businesses that create substantial long-term value. SK Capital aims
to utilize its industry, operating, and investment experience to
identify opportunities to transform businesses into higher
performing organizations with improved strategic positioning,
growth, and profitability, as well as lower operating risk. SK
Capital’s portfolio of businesses generates revenues of
approximately $14 billion annually, employs more than 25,000 people
globally, and operates more than 200 plants in over 30 countries.
The Firm currently has approximately $9 billion in assets under
management. For more information, please visit
www.skcapitalpartners.com.
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Jeremy Milner BackBay Communications (401) 862-9422
jeremy.milner@backbaycommunications.com