Sonneborn Buys Chemtura Units

Sonneborn, a Sun Capital Partners affiliate, has bought the natural sodium sulfonate and oxidized petrolatum businesses of Chemtura Corp. Inc. The U.S. Bankruptcy Court of the Southern District of New York has approved the sale to Sonneborn.

PRESS RELEASE

Sun Capital Partners affiliate Sonneborn, one of the world’s largest dedicated suppliers of white oils, petrolatums, waxes and other hydrocarbon specialty products, today announced it has acquired the natural Sodium Sulfonate (PetronateTM) and Oxidized Petrolatum (OxpetTM) businesses of Chemtura Corporation, Inc., a Middlebury, Connecticut-based global manufacturer and seller of specialty chemical solutions and consumer products.  The sale of the assets to Sonneborn was approved by the U.S. Bankruptcy Court of the Southern District of New York.

Under an existing arrangement, Sonneborn had manufactured the natural Sodium Sulfonate and Oxidized Petrolatum product lines, which were marketed and sold by Chemtura. The PetronateTM sodium sulfonate line serves as emulsifiers, demulsifiers and rust preventatives that are widely used in the metalworking industry, and Sonneborn is the largest global producer of natural sodium sulfonates products.  OxpetTM oxidized petrolatum corrosion inhibitors provide rust protection in formulating industrial metal protective compounds, are frequently sold alongside sodium sulfonates, and Sonneborn is one of only two global manufacturers in the market.

“The full integration of the two businesses provides Sonneborn with great value, not only because they complement our existing product lines but also because they stand to benefit from an overall strengthening economic environment,” said Robert Muller, Chief Executive Officer of Sonneborn. “The Sodium Sulfonate product line is a natural fit for Sonneborn, given that sulfonates are a co-product of our core white oil business.  The addition of the Oxidized Petrolatum operations allows Sonneborn to expand into a new market.”

Christopher Thomas, Principal at Sun Capital Partners, said, “We are excited about the acquisition of these businesses, as they are global leaders and further solidify Sonneborn’s leading market position in the industry. Furthermore, given that our European facility has been manufacturing these products for Chemtura, the acquisition will be a strong strategic fit.”