SK Capital has acquired Israel Chemicals‘ fire safety and oil additives business. No financial terms were disclosed. The business has been renamed Perimeter Solutions and will be based in St. Louis, Missouri. The Valence Group, Rothschild & Co. and HSBC Securities (USA) Inc. were M&A advisers to SK Capital while Kirkland & Ellis LLP provided legal advice.
SK Capital, a private investment firm focused on the chemicals, specialty materials, and pharmaceuticals sectors, completed its previously announced acquisition of the Fire Safety and Oil Additives businesses of Israel Chemicals Ltd. (“ICL”). The businesses have been renamed Perimeter Solutions (“Perimeter” or the “Company”) and will be headquartered in St. Louis, Missouri.
Edward Goldberg, CEO of Perimeter, stated, “We are excited to partner with SK Capital, a firm which uniquely understands our business and industry. We look forward to continuing our tradition of being a trusted and reliable partner to our customers and communities we serve, while further investing in Perimeter to accelerate our growth in new geographies and channels to market.”
Aaron Davenport, a Managing Director of SK Capital, added, “Perimeter is an industry leader with an uncompromising commitment to the highest quality, safety, and reliability standards. The transition from a non-core business within a public company to a standalone organization will enable a renewed emphasis on investment and growth. We look forward to growing and developing the Company alongside management in the years to come.”
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. Debt financing was arranged 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 seeks to build strong and growing businesses that create substantial long-term economic value. SK Capital 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 Capital’s portfolio of businesses generates revenues of approximately $6 billion annually, employs more than 8,800 people globally and operates more than 71 plants in 26 countries. The firm currently has approximately $2.2 billion of assets under management. For more information, please visit www.skcapitalpartners.com.
About Perimeter Solutions
Perimeter, headquartered in St. Louis, Missouri, has global operations and is a market leader in each of its segments. The Fire Safety business is a formulator and manufacturer of fire management chemicals. The 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. For more information, please visit the Company’s website at www.perimeter-solutions.com.