Chase Corporation to Acquire NuCera Solutions, a Portfolio Company of SK Capital
HOUSTON–(BUSINESS WIRE)–A fund subsidiary advised by SK Capital Partners, LP (“SK Capital”) today announced that it has reached an agreement to sell NuCera Solutions (“NuCera” or the “Company”) to Chase Corporation ( NYSE American: CCF), a leading manufacturer of protective materials for high reliability applications. NuCera was acquired for a purchase price of $250.0 million, pending any working capital adjustments and excluding acquisition-related costs.
Formed from the spin-off of the specialty polymers business from Baker Hughes, NuCera is a recognized leader in the production and development of premium polymer technologies and polymerization methods for demanding applications. NuCera differentiates itself with a broad portfolio of approximately 120 functional polyethylenes and specialty polymers that serve as critical performance additives for customers worldwide. The company operates globally with headquarters in Houston, Texas, a primary production facility in Barnsdall, Oklahoma, and international sales offices in France and Singapore.
“It has been a pleasure to support the development and growth of NuCera,” said Mario Toukan, Managing Director of SK Capital. “SK has invested heavily in NuCera’s people, capabilities and facilities, establishing a leading technology-driven specialty polymer platform. We believe NuCera is well positioned for continued growth under the ownership of Chase Corporation and wish them continued success.
Steven McKeown, President and CEO of NuCera, said, “After a period of notable growth, we are delighted to join the Chase family which provides strong cultural and strategic alignment to our business. Our portfolio of innovative, high-performance products is well aligned with Chase’s core philosophy of making a material difference. On behalf of everyone at NuCera, we can’t wait to begin our journey with the Chase team.
“The acquisition of NuCera is transformational in advancing Chase’s strategic growth priorities. The company’s competitive positioning, North American manufacturing footprint, and captive synthesis capabilities will allow us to gain additional scale and know-how to expand our offerings into multiple new end markets, while maintaining both a solid balance sheet and financial flexibility. NuCera’s growth trajectory and internal culture closely aligns with those of Chase and we are excited to welcome NuCera and its highly differentiated products to Chase Corporation and its customers,” said Adam Chase, President and Chief Executive Officer. of Chase Corporation.
The transaction is subject to customary closing conditions and regulatory approvals. Lincoln International acted as sales advisor and Goodwin Procter LLP acted as legal advisor to SK Capital and NuCera. Moelis acted as purchasing advisor and Nelson Mullins acted as legal advisor to Chase Corporation.
About NuCera Solutions
With an 85-year history of innovative chemistry, NuCera is a global leader and pioneer in the development and manufacture of highly differentiated specialty polymers and polymerization technologies for markets that demand high quality and performance: adhesives, candles, coatings, imaging, masterbatches, personal products. Maintenance and Plastics. NuCera supplies performance chemicals to global markets from its highly flexible manufacturing facilities in Barnsdall, OK, which are supported by R&D and applications laboratories as well as pilot plant facilities. For more information, please visit www.nucerasolutions.com.
About Chase Corporation
Chase Corporation, a global specialty chemicals company founded in 1946, is a leading manufacturer of protective materials for high reliability applications worldwide. More information can be found on our website https://chasecorp.com/.
About SK Capital
SK Capital is a private investment firm focused on the specialty materials, chemicals and pharmaceuticals sectors. The company seeks to build strong, growing businesses that create substantial long-term economic value. SK uses 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 reduced operational risk . SK Capital’s business portfolio generates revenues of approximately $15 billion annually, employs more than 20,000 people worldwide and operates 191 plants in 32 countries. The company currently has approximately $6.6 billion in assets under management. For more information, please visit www.skcapitalpartners.com.