H.I.G. Sells Valtris to SK Capital
Investment company H.I.G. Capital has agreed to sell Valtris Specialty Chemicals to an affiliate of funds managed by SK Capital Partners. Financial terms of the transaction were not disclosed. Based in Independence, Ohio, USA, the company manufactures specialty polymer additives and specialty chemicals at nine plants located around the world.
The transaction is expected to close in the third quarter of 2022, subject to the usual conditions.
H.I.G. bought Valtris from Ferro Corp for $154 million in December 2014. Since then, it has expanded the company’s geographic footprint and portfolio through the acquisition of Akcros Chemicals in the US and UK in 2016, along with multiple Ineos business units in France, Belgium and the Netherlands in 2018.
Commenting on H.I.G.’s exit, Valtris CEO Paul Angus said: “Together, we have built a strong global leader in polymer additives that is well positioned for robust future growth. SK’s investment is a strong validation of our company and talented team and launches an exciting new chapter for Valtris.”
Author: Elaine Burridge, Freelance Journalist
