SK Closes Sale of NuCera Solutions to Chase
An affiliate of funds advised by SK Capital Partners has completed the sale of NuCera Solutions to international specialty chemicals company Chase Corp. for $250 million. The companies entered into the agreement on Jul. 18.
Formed through the carve-out of Baker Hughes’ specialty polymer business, NuCera is a leading producer of specialty polymers and polymerization technologies for performance additives, with revenue of $83 million for the 12-month period ending Apr. 30.
The company is headquartered in Houston, Texas and operates a production facility in Barnsdall, Oklahoma, with international sales offices in France and Singapore. It employs 130 people worldwide.
Commenting on the acquisition, Chase president and CEO Adam Chase said: “The acquisition of NuCera is transformational in advancing Chase’s strategic growth priorities. The company’s strong market position, North American manufacturing footprint and captive synthesis capabilities will allow us to gain additional scale and expand our presence across multiple new high-growth end markets, while maintaining both a strong balance sheet and financial flexibility.”
Chase will continue to market under NuCera brands and the business will be integrated into its Adhesives, Sealants and Additives reporting unit.
Author: Elaine Burridge, Freelance Journalist
