Funds advised by SK Capital Partners, a private investment firm, have purchased Florachem Holdings from an affiliate of Carmelina Capital.
Florachem is led by CEO Jon Leonard and serves customers across the flavor and fragrance, personal care, industrial, coatings and adhesives markets. Florachem currently operates two facilities in North America. Florachem is a manufacturer and supplier of natural plant-based ingredients like citrus, pine, and specialty rosin resins.
SK Capital is a private investment firm with a disciplined focus on the specialty materials, specialty chemicals and pharmaceuticals sectors. SK Capital has approximately $6.6 billion of assets under management.
Carmelina Capital Partners is a private investment firm that partners with founder-led and family-owned businesses. Carmelina has extensive experience partnering with owner-operators across industries to facilitate shareholder liquidity, support rapid growth, and drive accelerated value creation.
“Jon Leonard and his team have built a tremendously successful platform with an industry-wide reputation for customer service, reliability, and quality,” said Mario Toukan, managing director of SK Capital. “We look forward to partnering with the Florachem team to continue to service its customer and supplier bases, expand the platform’s reach and capabilities, and accelerate growth.”
Goodwin Procter LLP acted as legal counsel to SK Capital and committed debt financing was provided by Stellus Capital Management.