Private equity firm SK Capital Partners has closed a deal for Clariant AG’s (SWX: CLN) textile chemicals, paper specialties and emulsions businesses.
The businesses make dyes, pigments, and chemicals used by the textile, paper, coatings, construction and adhesive industries.
The units are now operating under the name Archroma. The total purchase price for the deal was $469.5 million.
SK Capital expects the deal to complement the firm’s position as a supplier to the global fibers market and the U.S. Paper Industry. The New York firm is also invested in Addivant, a company that makes products for the polymers and plastics industry, and TPC Group, which also makes products for the plastics and rubber industries.
The sale is part of Clariant’s plan to focus on higher growth and more profitable businesses.
SK Capital announced that it would buy the three units in December.