SK Capital, which manages a growing portfolio of companies focused on the specialty materials, chemicals, and pharmaceuticals sectors, has acquired a majority interest in Techmer PM LLC, a designer and producer of engineered compounds and colour and additive concentrates for the plastics and fibre industries.
The financial terms of the deal have not been disclosed.
In a July 21 statement, SK capital said that it will “recapitalize Techmer in partnership with its chairman and CEO, John Manuck, who will continue to retain a significant ownership stake in the company.”
“Techmer PM fits squarely within our strategy of investing in niche market leaders in partnership with visionary entrepreneurs,” Jon Borell, a managing director of SK Capital, said in the statement. “The specialty materials sector is an area where we have deep expertise through a number of our existing portfolio companies, and we are excited to leverage our resources to further strengthen the business.”
Founded in 1981, Techmer is headquartered in Clinton, Tenn., and develops and manufactures custom colour and additive masterbatch solutions and specializes in modifying the appearance and properties of base polymers. It serves the agriculture, automotive, aerospace, building and construction, consumer products, medical, material handling, nonwovens, rigid packaging, and textile markets, as well as a variety of OEMs.
Techmer operates seven manufacturing plants in North America and employs more than 600 people. In late 2017, the company opened its first plant outside the U.S., in Querétaro, Mexico.