US' SK Capital sells Foremark to CC Industries

An affiliate of funds advised by SK Capital Partners, LP (“SK Capital”) announced it has completed the sale of Foremark Performance Chemicals, Inc. (“Foremark”) to affiliates of CC Industries, Inc., which is the management company for the Crown family’s privately-held companies.

Acquired by SK Capital in 2017, Foremark is a technology-driven producer of patented and proprietary natural gas sweeteners, chemical building blocks, and slow-release fertilizers.

Jack Norris, managing director at SK Capital, said, “SK Capital is privileged to have partnered with Randy Owens and the entire Foremark team. We are proud and appreciative of Foremark’s accomplishments, having become the undisputed leader in natural gas sweetening technologies. We believe Foremark is well-positioned to continue this growth and flourish under the new ownership. We wish CC Industries and all the employees of Foremark every success.”

Randy Owens, CEO of Foremark, commented, “We are proud of the transformation of Foremark under SK Capital’s ownership. This transaction affirms the reputation we have developed as the industry leader in natural gas sweetening technology. I would like to thank our employees for their dedication and commitment and SK Capital for its support throughout its ownership period. We have strengthened and grown the company substantially while establishing the next phase of Foremark’s growth. We are very pleased to become part of the CC Industries family.”

Piper Sandler and HSBC acted as financial advisors to Foremark and King & Spalding LLP acted as legal counsel.

Note: The content of this press release has not been edited by Fibre2Fashion staff.

Fibre2Fashion News Desk (HU)