SK Capital Partners LP, a private investment firm focused on the specialty materials, chemicals and pharmaceuticals sectors, has completed its previously announced acquisition of Ipackchem Group SAS, a provider of sustainability-oriented barrier packaging. Ipackchem represents SK’s second investment in the packaging sector following its acquisition of the Lacerta Group.
Stephen D’Incelli, managing director at SK Capital, stated, “The transaction is a testament to SK’s ability to leverage our global platform to identify leading materials technologies businesses with immense commercial applications. We believe Ipackchem is a highly differentiated and sustainability-advantaged business with significant growth potential. We’ve been tremendously impressed by Jean-Philippe and the entire Ipackchem management team and we are excited to partner with them to execute our shared strategic objectives.”
Jean-Philippe Morvan, CEO of Ipackchem, noted, “We are delighted to partner with SK Capital as we embark on our next phase of growth. We believe their specialty chemicals expertise, functional and operating resources and extensive M&A capabilities will be instrumental in building on our existing strong market positions. Our common ambition is to accelerate organic and acquisitive growth and develop Ipackchem into the leading global barrier packaging player for crop protection and select specialty chemical markets.”
Ipackchem’s board of directors includes several executives, including Rob Tiede, the former CEO of Sonoco Products, Dave Mezzanotte, SK Capital senior director and former chairman and CEO of Coveris, and George Gregory, SK Capital senior director and former CEO of Kraton Polymers.
Tiede commented, “Ipackchem is at the forefront of addressing many of today’s macroeconomic and socioeconomic issues. The company’s highly specialized packaging products are of extremely high quality, enabling the safe handling and shipping of highly regulated crop protection chemicals that allow farmers to feed the world‘s growing population, and are 100 percent recyclable, helping to address environmental issues.”
Acquisition financing was provided by Alcentra Ltd., Rothschild & Co. served as M&A and financial advisor and Kirkland & Ellis acted as legal counsel to SK Capital.