SK Capital Partners, LP, a private investment firm focused on the specialty materials, chemicals and pharmaceuticals sectors, completed its previously announced acquisition of the specialty polymers business of Baker Hughes.
The business has been renamed NuCera Solutions, reflecting its history of innovation in the specialty polymers and polyethylene wax markets.
NuCera, with manufacturing operations in Barnsdall, Oklahoma, produces specialty low molecular weight olefin polymers, including a range of differentiated functional polymers and premium, high melting point polyethylene waxes.
NuCera Solutions has also announced the appointment of Steve McKeown as the Company’s Chief Executive Officer and Shawn Ham as Chief Financial Officer, effective immediately.
Mario Toukan, a Managing Director of SK Capital, stated, “We believe NuCera’s leading specialized polymerization technologies combined with a strong existing base of talent and new leadership team will transform the Company into an independent leader of global polymer solutions.”
“We are very excited to have Steve and Shawn joining the NuCera team. Their combination of chemicals industry experience and leadership skills will help transition NuCera into the next phase of its growth and provide outstanding stewardship for NuCera’s customers, suppliers and employees,” stated Jonathan Borell, a Managing Director of SK Capital.
“Shawn and I are excited to join the talented team at NuCera. Building on the company’s decades of specialty polymers experience, we look forward to partnering with our customers to bring new, innovative products to market,” Mr. McKeown stated.
Morgan, Lewis & Bockius LLP acted as legal counsel to SK Capital and debt financing was provided by KeyBanc Capital Markets. Evercore acted as financial advisor and King & Spalding LLP served as legal counsel to Baker Hughes.