SK Capital Completes Chemtura Carveout

SK Capital Partners has closed its acquisition of the Antioxidant and UV Stabilizer Solutions business of Chemtura (NYSE: CHMT) for $200 million. The terms provide for about $97 million of cash payable at closing, the receipt of $9 million in preferred stock and the assumption of pension, environmental and other liabilities totaling approximately $93 million. To be renamed Addivant as an independent company, the business supplies additives like antioxidants, antiozonants, inhibitors, polymer modifiers and UV stabilizers that are used to improve the properties of polymers, plastics and rubbers. The carveout represents the fourth investment from SK Capital Partners III, a $500 million vehicle raised in 2011.

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