SK Capital Partners LP and Edgewater Capital Partners, investment firms focused on specialty materials and specialty chemicals, have acquired the scintillation and photonic crystals business of Saint-Gobain SA. As part of the deal, SK Capital will lead the investment while Edgewater will act as a minority shareholder.

Saint-Gobain Crystals provides single scintillation crystals for radiation detection applications and sapphire and garnet substrates for photonics and power electronics uses.

“We are incredibly excited to partner with the Saint-Gobain Crystals team as we embark on the next phase of the Company’s growth,” said Mario Toukan, managing director of SK Capital. “Saint-Gobain Crystals is uniquely positioned in the market, leveraging leading R&D capabilities to solve customer-specific challenges with applied material science. Moving forward we will seek to build upon the Company’s stellar scientific foundation and reputation while establishing a leading independent market participant.”

Latham & Watkins LLP acted as legal counsel to SK Capital. Taft Stettinius & Hollister LLP acted as legal counsel to Edgewater.