PE Deals

SK Capital recaps materials design company Techmer

The transaction was made with an investment from Gryphon Investors.

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  • SK Capital invested in Techmer in July 2020, acquiring a majority interest
  • Piper Sandler acted as financial advisor to SK Capital on the transaction while Guggenheim Securities served as financial advisor to Gryphon
  • Currently, SK Capital has approximately $6.6 billion of assets under management

SK Capital has recapitalized Techmer, a maker of engineered materials. The transaction was made with an investment from Gryphon Investors. No financial terms were disclosed.

“Since our initial investment in 2020, SK Capital has been proud to partner with John Manuck, Mike McHenry, and the entire Techmer team to place a qualified management team, implement a strong commercial strategy, and facilitate its extraordinary growth,” said Mario Toukan, a managing director of SK Capital, in a statement. “We have leveraged SK’s resources to help strengthen Techmer and been fortunate to work with an ownership and management group that shares our core values. The success of Techmer serves as a prime example of the value proposition of SK’s lower middle market strategy and represents a milestone for the firm.”

SK Capital invested in Techmer in July 2020, acquiring a majority interest. Manuck retained a significant ownership stake.

Piper Sandler acted as financial advisor and Kirkland & Ellis LLP acted as legal counsel to SK Capital and Techmer PM in this transaction. Guggenheim Securities served as financial advisor to Gryphon in this transaction.

SK Capital focuses on the specialty materials, specialty chemicals, and pharmaceuticals sectors. Currently, SK Capital has approximately $6.6 billion of assets under management.

Founded in 1981 and based in Clinton, Tennessee, Techmer PM LLC is a materials design company specializing in modifying and fine-tuning the properties of technical polymers.

Based in San Francisco, Gryphon Investors targets the middle market. As of December 31, 2021, the firm has over $9 billion of assets under management. Gryphon targets making equity investments of $50 million to $300 million in portfolio companies with enterprise values ranging from approximately $100 million to $600 million.