SK Capital Partners said June 1 that it has acquired a majority of Tri-Tex Co Inc through a recapitalization. Financial terms weren’t announced. Tri-Tex, of Canada, is a specialty chemicals manufacturer. CIBC provided debt financing for the transaction. Morgan, Lewis & Bockius LLP served as legal counsel to SK Capital for the transaction. CIBC Mid-Market Investment Banking provided financial advice to Tri-Tex.
NEW YORK, June 1, 2017 – SK Capital Partners, a private investment firm with a disciplined focused on the specialty materials, chemicals and pharmaceutical sectors, announced today that it has partnered with management to recapitalize Tri-Tex Co. Inc. (“Tri-Tex” or the “Company”), a leading Canadian specialty chemicals manufacturer and value-added distributor focused on the adhesives, coatings and sealants, surfactants, and textile chemical markets. SK Capital has acquired a majority control position with the founders retaining a significant ownership stake in the ongoing entity.
Aaron Davenport, a Managing Director of SK Capital, commented, “SK Capital is pleased to partner with Tri-Tex, a Company with a strong reputation for product innovation, customer service and application-specific solutions. We have a long-standing relationship with Naim and Natalie Laham, under whose leadership Tri-Tex has flourished into a market leader.”
Barry Penney, a Principal of SK Capital, added, “We see multiple opportunities for Tri-Tex to collaborate with the existing SK Capital portfolio including leveraging our combined purchasing power, supply chain initiatives, sales & products agreements, and new product collaboration. Moreover, we believe the Company is ideally positioned to capitalize on the fragmented nature of its core markets by growing through highly accretive acquisitions to augment its geographic scope and product portfolio.”
Natalie Laham, CEO of Tri-Tex, commented, “We are excited to partner with SK Capital, a firm ideally suited to support our next phase of growth given their significant experience in the specialty chemicals sector and proven track record of growing businesses. With SK’s support and active engagement, we look forward to accelerating our growth by providing leading innovative solutions to our expanding base of customers.”
Morgan, Lewis & Bockius LLP served as legal counsel to SK Capital for the transaction. CIBC Mid-Market Investment Banking acted as exclusive financial advisor to Tri-Tex. CIBC provided committed debt financing for the transaction.
ABOUT SK CAPITAL
SK Capital is a private investment firm focused on the specialty materials, chemicals and pharmaceutical sectors. The firm builds strong and growing businesses that generate substantial long-term value for its investors. SK Capital utilizes its industry, operating and investment experience to identify opportunities to transform businesses into higher performing companies with improved strategic positioning, growth, profitability and risk profiles. The firm currently has approximately $1.9 billion of assets under management and its portfolio companies generate revenues of over $5.0 billion annually and employ approximately 8,700 people. For more information, please visit www.skcapitalpartners.com. ABOUT TRI-TEX Tri-Tex is a leading producer of high-performance specialty chemicals focused on the adhesive, sealants, surfactants and textile & paper chemical markets. Headquartered in St-Eustache, Quebec, Tri-Tex’s comprehensive suite of products are critical precursors used to develop every- day consumer and industrial applications in a variety of end-markets including paints, printing, personal care, hygiene, construction, textile and marine.