SK Capital Partners, LP has signed a definitive agreement to acquire the specialty polymers business from Baker Hughes.
Baker Hughes’ specialty polymers business, 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. Over its 85-year history, the business has been dedicated to innovation and has developed a strong reputation as a premium specialty supplier and solutions provider to its diverse customer base.
Offering Solutions-oriented Products for Customers
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The specialty polymers business is a pioneer in the development of specialized polymerization technologies. We see tremendous opportunity for growth by further developing functional, solutions-oriented products that solve problems and create significant value for customers,” said Mario Toukan, managing director of SK Capital.
SK has extensive corporate carveout expertise and we look forward to partnering with management to transform the business into a world-class independent specialty chemical company with an intense focus on operational excellence. As an independent company, the specialty polymers business will be able to build upon and enhance its reputation as a reliable provider of innovative and high-quality polymers.
SK Capital and Baker Hughes are working together to execute a seamless transaction plan to continue to serve the specialty polymers business’s customer base reliably and safely. The transaction is expected to close in the second half of 2020.
Source: SK Capital