On June 1, New York-based private equity firm SK Capital Partners announced the acquisition of SI Group (Schenectady, NY), a leading supplier of plastic additives and rubber chemicals. The business will be merged with SK’s own Addivant business. The Addivant business is the former antioxidant and light stabilizer business of Chemtura, which SK acquired in 2013. No purchase price for the SI Group deal was announced; the transaction is expected to close in the second half of 2018.
SI Group, which was founded in 1906 as Schenectady Varnish Co., has more than $1 billion in sales and employs more than 2,800 at 20 locations worldwide. Its product lines include plasticizers, flame retardants and antioxidants. It is also the world’s leading supplier of rubber tackifiers.
Barry Siadat, SK co-founder and managing partner, said in a news release that “by combining the complementary strengths of SI Group and Addivant, we will be creating a global technology and industry leader in plastic, lubricant, oilfield and rubber additives.”
Comments