SK Capital-backed Foremark acquires energy company NexGen Chemical Technologies

• Texas-based Foremark is a provider of natural gas sweetening formulations
• SK Capital targets the specialty materials, ingredients and life sciences sectors
• The firm currently has approximately $7.8 billion in assets under management

Foremark, which is backed by SK Capital Partners, has acquired NexGen Chemical Technologies, a Texas-based provider of natural gas sweetening solutions. The seller was Black Bay Energy Capital. No financial terms were disclosed.

Texas-based Foremark is a provider of natural gas sweetening formulations.

SK Capital acquired Foremark in 2017.

“The acquisition of NexGen aligns with Foremark’s strategy to expand its role in enabling the transition to cleaner energy,” said Randy Owens, CEO of Foremark, in a statement. “Natural Gas is a critical energy source needed to meet growing demand in numerous sectors of the global economy, such as electricity generation, manufacturing and transportation, while simultaneously lowering carbon emissions. It also has an increasing role in supporting the reliability of renewable energy sources such as wind, solar and hydroelectricity. Foremark is committed to driving innovation and providing customers with new and customized solutions.”

NexGen was founded in 2018 by management and Black Bay.

SK Capital targets the specialty materials, ingredients and life sciences sectors. The firm currently has approximately $7.8 billion in assets under management.