Private investment firm SK Capital has agreed to an approximately $1 billion deal to acquire the fire safety and oil additives business unit from Tel Aviv-based Israel Chemicals Ltd. The current deal counts as the second cross-border acquisition for the private equity firm in a month, following the purchase of Ireland-based Wavelength Pharmaceuticals.

Israel Chemicals’ fire safety and oil additives division is headquartered in St. Louis, Missouri. The target’s fire safety business manufactures fire management chemicals, while its oil additives unit makes “high quality” phosphorus pentasulfide that is used in the preparation of lubricant additives.

“This acquisition adds to SK Capital’s extensive experience of partnering with corporate sellers to execute carve-outs of non-core businesses and working with management to transform them into thriving, independent companies,” SK Capital managing director Aaron Davenport.

New York-based SK Capital invests between $100 million and $200 million in businesses in the materials, chemicals and healthcare sectors. The firm manages approximately $1.9 billion in assets. In June, SK Capital bought two chemical manufacturing companies called Western Inc. and Tri-Tex Co. In 2016, SK Capital bought a majority stake in ingredients producer Niacet Corp. The firm also backed wine ingredients supplier AEB Group and pharmaceutical chemicals provider Halo Pharmaceutical in 2015.

The Valence Group, Rothschild & Co. and HSBC Securities Inc. (NYSE: HSBC) is acting as financial advisors to SK Capital, while Kirkland & Ellis LLP is serving as legal advisor. Committed debt financing was provided by Barclays (NYSE: BC), Goldman Sachs USA (NYSE:GS), and HSBC.