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Aristech Acrylics Acquired by SK Capital Partners

Florence, KY-based manufacturer of continuously cast acrylic sheets is purchased by a NYC-based private-equity firm.

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Aristech Acrylic LLC (Florence, KY) has been acquired by SK Capital Partners LP, a NYC-based private-equity firm specializing in the specialty-chemical industry. Principals of SK Capital have been interested in investing in Aristech for many years.

When Mitsubishi Corp., Aristech Acrylics' prior owner, began the sales process, SK Capital was determined to purchase the company. The seller was Mitsubishi Corp., while Wells Fargo Foothill provided leveraged financing. No pricing terms were disclosed. SK Capital is an affiliate of the Valence Group, a newly formed merchant bank focused on the specialty-chemicals and materials sectors.

"We are thrilled with the new energy provided by SK Capital's investment," said David Knowles, president of Aristech Acrylics. "While we remain focused on profitability, which underpins our stability and prosperity for our employees, we now can actively seek out new opportunities to develop the company. The seamless transition of ownership makes our work even more exciting."

SK Capital Partners focuses on investing in businesses they know, which includes niche segments of the specialty chemical sector, such as personal care, building materials, agricultural specialties, electronic chemicals and healthcare specialties. "We actively seek to invest in companies that could benefit from our attention and support,'" said Barry Siadat, Managing Director of SK Capital. "Aristech Acrylics has been operated by Mitsubishi Corp. as a non-core, standalone entity. Under our ownership, we will refocus attention towards building upon Aristech Acrylics' tradition of innovative products and superior technology to delight its customers and create great opportunities for all stakeholders."

Aristech Acrylics is the leading manufacturer of continuously cast acrylic sheet for hot tub, bath, shower, signage and OEM applications. In addition, Aristech Acrylics is a leading supplier of solid-surface sheet. Aristech has another plant in Belen, NM.

SK Capital Partners was formed in 2007 to make control investments in the middle-market, specialty-chemicals and healthcare businesses.

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