Funds advised by SK Capital Partners, LP, a private investment firm focused on the specialty materials, chemicals and pharmaceuticals sectors, announced it has signed a definitive agreement to acquire the specialty polymers business from Baker Hughes.
The 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.
"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, a managing director of SK Capital.
The transaction is expected to close in the second half of 2020.