NEW YORK–(BUSINESS WIRE)–An affiliate of funds advised by SK Capital Partners, LP announced today it has completed the sale of Foremark Performance Chemicals, Inc. 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.
