US private equity firm SK Capital Partners is getting ready to sell Swiss specialty chemicals company Archroma, according to media reports citing people familiar with the situation. Archroma was formerly the textile chemicals, paper specialties and emulsions divisions of Clariant, which sold the businesses to the New York-based group in October 2013.

News agency Reuters said both trade buyers and private equity companies are preparing to bid, citing the UK’s Synthomer and Apollo Global Management and Advent International as likely contenders. The report added that SK Capital could also retain a stake in Archroma under its new owner.

Under SK Capital’s ownership, Archroma has grown organically and through acquisitions. In May 2014, the Reinach-based company bought a 49% stake in Germany’s M. Dohmen, a company specializing in producing textile dyes and chemicals for the automotive, carpet and apparel sectors. Archroma then bought the global textile chemicals business of BASF in July 2015.

Archroma, which has sales of about $1.3 billion, operates 25 facilities around the world and employs around 3,000 people.

In separate news, SK Capital Partners has completed the acquisition of Niacet, a leading US-based producer of organic salts, including propionates and acetates, for the food, feed, pharmaceutical and technical industries.

The private equity group said it is recapitalizing Niacet in partnership with Kelly Brannen who will remain as CEO and retain a significant stake in the firm. The Brannen family purchased Niacet from Union Carbide in 1978.