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Friday, June 08, 2018

SI Group is purchased
SK Capital Partners, a private investment firm focused on specialty materials, chemicals and pharmaceuticals, has announced an agreement to acquire SI Group, a leading global developer and manufacturer of performance additives and intermediates. Headquartered in Schenectady, New York, SI Group operates 20 manufacturing facilities on five continents with more than $1 billion in annual sales and over 2,800 employees worldwide. SI Group has a facility in Newport which produces the largest quantity of Biphenol in the world. It is used in the manufacture of specialty plastics. Founded in 1906, SI Group will be combined with Addivant, a leading global supplier of additives. SK Capital has owned Addivant since 2013. Barry Siadat, a co-founder and Managing Director of SK Capital said, “We are excited that SI Group will be joining the SK Capital portfolio of chemicals and pharmaceuticals businesses. SI Group has an excellent fit with the technologies and end markets of several SK Capital businesses, including Addivant in additives, Noramco in the area of pain management pharmaceuticals, and TPC Group in building block chemicals for certain SI Group products. These technology and market connections will enhance and accelerate the continued growth and transformation of SI Group. Additionally, by combining the complementary strengths of SI Group and Addivant, we will be creating a global technology and industry leader in plastic, lubricant, oilfield, and rubber additives.” “SK Capital is a firm known for its sound business practices, deep industry experience, and impressive portfolio of companies in the chemicals sector,” said Wallace A. Graham, Chairman of SI Group. “We are thrilled by the prospect of SI Group joining SK Capital, as it will enhance the company’s performance additives and intermediates business in the plastic, oil and gas, pharmaceutical, and rubber sectors. We expect to see great things in the years ahead.” The transaction is expected to close in the second half of this year.


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