SK Capital Announces Agreement to Acquire Fire Safety and Oil Additives Businesses from Israel Chemicals Ltd.
SK Capital, a private investment firm focused on the specialty materials, chemicals and pharmaceuticals sectors, today announced that it has signed a definitive agreement to acquire the Fire Safety and Oil Additives Businesses (the “Company”) of Israel Chemicals Ltd. (“ICL”) for approximately $1 billion. The transaction is expected to close in the first half of 2018, before which a new trade name will be selected and announced for the Company.
The Businesses, headquartered in St. Louis, Missouri, have global operations and are market leaders in each of their segments. The ICL Fire Safety business is a formulator and manufacturer of fire management chemicals. Its Phos-Chek fire retardants, Class A and B foams, and water enhancing gels are the world’s leading chemical solutions for managing wildland, military, industrial and municipal fires, and are used in partnership with fire management agencies across the globe. The ICL Oil Additives business provides high quality phosphorus pentasulfide used in the preparation of ZDDP-based lubricant additives, in critical engine anti-wear solutions that lead to prolonged combustion engine function, as well as in pesticide and mining chemicals applications.
Aaron Davenport, a Managing Director of SK Capital, stated, “This acquisition adds to SK Capital’s extensive experience of partnering with corporate sellers to execute carve-outs of non-core businesses and working with management to transform them into thriving, independent companies. As the global industry leader across both its segments, the Company offers an unmatched, vital value proposition to its customers with the highest quality standards and a dedication to premier service.”
Stephen d’Incelli, a Principal of SK Capital, commented, “We see multiple opportunities to invest in both organic and acquisitive growth to accelerate the Company’s strategy of introducing its differentiated technology, proprietary formulations, and state-of-the-art service operations to new channels, geographies, and markets.” Barry Penney, a Principal of SK Capital, added, “We look forward to collaborating with Eddie Goldberg, the leader of these Businesses, the rest of the management team and the dedicated employee-base to support their continued growth as an independent company.”
The Valence Group, Rothschild & Co. and HSBC Securities (USA) Inc. acted as M&A advisors to SK Capital; Kirkland & Ellis LLP acted as legal advisor and committed debt financing was provided by Barclays, Goldman Sachs USA, and HSBC Securities (USA) Inc.
About SK Capital
SK Capital is a private investment firm with a disciplined focus on the specialty materials, chemicals and pharmaceuticals sectors. The firm’s purpose is to build strong and growing businesses that create substantial long-term economic value. SK utilizes 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’s portfolio of businesses generates revenues of approximately $6 billion annually, employs more than 8,700 people globally and operates more than 60 plants in 25 countries. The firm currently has approximately $1.9 billion of assets under management. For more information, please visit www.skcapitalpartners.com.
ICL is a global manufacturer of products based on specialty minerals that fulfill humanity’s essential needs primarily in three markets: agriculture, food and engineered materials. ICL shares are dual listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL). The company employs approximately 13,000 people worldwide, and its sales in 2016 totaled US$5.4 billion. For more information, visit the company's website at www.icl-group.com.
Philip Nunes, 617-391-0792
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Tilaa tiedotteet sähköpostiisi
Haluatko tietää asioista ensimmäisten joukossa? Kun tilaat mediatiedotteemme, saat ne sähköpostiisi välittömästi julkaisuhetkellä. Tilauksen voit halutessasi perua milloin tahansa.
Lue lisää julkaisijalta Business Wire
ISAE-SUPAERO Launches a New MOOC in the Field of Space and Aeronautics18.1.2019 11:00 | Tiedote
ISAE-SUPAERO, the world leader in aerospace engineering training has launched a new MOOC for the start of 2019: "DynaMOOC". “DynaMOOC”: understand and apply the fundamentals of structural dynamics The basic architecture of aerospace structures is generally founded on static criteria. The modern approach consists of integrating the dynamics not to certification but also to the fundamental design and specification of aerospace structures and light structures. Thus, all areas which involve structural works are affected: aircraft, vehicles, naval engineering and civil engineering. In-depth knowledge of the fundamentals of dynamics offers a new perspective on the classification and behavior of all mechanical systems. This MOOC goes back to the basics of solid dynamics applied to structural analysis. This four-week course is aimed at undergraduate students in mechanical or physical engineering who would like to comprehend the transition from statics to dynamics, as well as to structural engi
Ipsen: Patients Living with Spasticity Want Long-lasting Symptom Relief18.1.2019 09:30 | Tiedote
Regulatory News: This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190117005697/en/ Carenity Infographic Ipsen (Euronext: IPN; ADR: IPSEY) today presents at TOXINS, results from an international survey revealing the hidden burden of spasticity and the need for longer periods of symptomatic relief1. Affecting 12 million people around the world2, spasticity is one of the most common and disabling conditions associated with neurological diseases in adults (stroke, traumatic brain, etc.) and characterised by an abnormal increase in muscle tone or stiffness3. A survey of 615 respondents from 6 participating countries confirms that spasticity has a profound impact on ability to perform everyday tasks, including the ability to carry items, walk, and drive and reduces independence overall. The survey1 also found that spasticity affects the ability to work (22% of patients surveyed did not work) and impacts sex life as well as self-este
A Better Way to Earn Interest on Digital Assets18.1.2019 04:00 | Tiedote
Cred, the leading provider of crypto borrowing and lending with over $300 million in credit facilities, today announced the launch of CredEarn* on the Uphold platform. CredEarn allows Uphold customers to lend their crypto and fiat assets to Cred and receive up to 10% of annualized interest. “We’re thrilled to offer consumers the opportunity to earn interest on their digital assets and fiat currencies,” said Dan Schatt, Co-founder and President of Cred. “In a bear market, customers can benefit from the liquidity they receive when obtaining a fixed amount of interest in USD or Stablecoin. In a bull market, customers also benefit by receiving the full upside on the amount of crypto they originally committed.” CredEarn customers can commit to a six-month term with the ability to rollover assets for additional periods. No account minimum is needed and interest is paid out in U.S. Dollars or Stablecoin every three months on Uphold. The principal is paid back in the fiat or crypto amounts tha
Servier and Taiho Oncology Present Latest LONSURF® (trifluridine/tipiracil) Data at ASCO 2019 Gastrointestinal Cancers Symposium (ASCO GI)18.1.2019 02:45 | Tiedote
Servier and Taiho Oncology, Inc. (U.S.), a subsidiary of Taiho Pharmaceutical Co., Ltd. (Japan), jointly announced today that the safety and efficacy data in the gastrectomy patient subgroup of the global Phase III trial TAGS evaluating LONSURF® (trifluridine/tipiracil, TAS-102) in patients with metastatic gastric cancer (mGC) are consistent with the overall study results published in The Lancet Oncology. These data were highlighted in an oral presentation at the ASCO 2019 Gastrointestinal Cancers Symposium (ASCO-GI) on Thursday 17 January. In TAGS, 221 (44%) of the 507 randomized mGC patients had undergone prior gastrectomy (147 LONSURF, 74 placebo), which is reflective of the real-world patient population diagnosed with mGC. The results confirmed that trifluridine/tipiracil prolonged survival versus placebo regardless of prior gastrectomy. The overall results of TAGS demonstrated that patients treated with oral trifluridine/tipiracil showed a clinically meaningful and statistically s
ISACA Announces 2019 Slate of Events for Business Technology Professionals Around the Globe During its 50th Anniversary Year17.1.2019 22:24 | Tiedote
ISACA, a global association serving technology audit, assurance, governance and cybersecurity professionals, celebrating its 50th anniversary in 2019, announced its annual event schedule, which includes learning opportunities focused on emerging technologies, innovation, best practices and professional development. Disruptive technologies over the last 50 years and in the future of business enterprise, and the evolution of technology careers and ISACA professions, will be featured in conjunction with the ISACA anniversary year at nearly every venue. ISACA’s growing Cybersecurity Solution Portfolio, including the CSX Training Platform and the CMMI Cybermaturity Platform, will be highlighted in new conferences in 2019, which will include events in North America and Europe. The 2019 CACS conferences, set for North America, Europe, Asia, Africa, the Oceania region and Latin America, will offer educational sessions in audit and assurance, big data, risk management, governance and more. All
HighLife Closes a €32 Million Round B Financing17.1.2019 20:25 | Tiedote
HighLife SAS, a medtech company focused on the development of a unique transcatheter mitral valve replacement (“TMVR”) system to treat patients suffering from mitral regurgitation, announced today it had closed a €32 million round of equity financing. Proceeds from the financing will be used to complete the development of the company’s transcatheter transseptal mitral valve implantation program, which includes regulatory approval trials in Europe to obtain the CE mark and a first clinical trial in the U.S. via an Early Feasibility Study (EFS). The Series B round was co-led by U.S. Venture Partners (“USVP”) and Andera Partners, with Sectoral Asset Management and Jose Calle Gordo, Chairman of the company, joining the round. Sofinnova Partners, which led the Series A round, continues to support the company and participated in this latest round of financing. Bryan Garnier & Co (Paris) acted as private placement agent for this financing. “I am very pleased to announce the closing of the Ser
Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.Tutustu uutishuoneeseemme