SK Capital Partners has signed a definitive agreement to acquire the specialty polymers business from Baker Hughes.
The speciality polymers business, with manufacturing operations in Barnsdall, Oklahoma, produces speciality low molecular weight olefin polymers, including a range of differentiated functional polymers and premium, high-melting point polyethylene waxes.
The business offers solutions for coatings market and more.
Its olefin-based, low-molecular weight polymers and waxes improve the performance, use, and production of its customers’ products.
Mario Toukan, managing director of SK Capital, stated, “The speciality polymers business is a pioneer in the development of specialised polymerisation technologies.
"We see tremendous opportunity for growth by further developing functional, solutions-oriented products that solve problems and create significant value for customers.”
SK has extensive corporate carveout expertise and looks forward to partnering with management to transform the business into a world-class independent speciality chemical company with an intense focus on operational excellence.
As an independent company, the speciality polymers business will be able to build upon and enhance its reputation as a reliable provider of innovative and high-quality polymers.
SK Capital and Baker Hughes are working together to execute a seamless transaction plan to continue to serve the specialty polymers business’s customer base reliably and safely.
The transaction is expected to close in the second half of 2020.