SK Capital Acquires Majority Interest in Techmer PM
The strategic partnership between SK Capital and Techmer PM will further expand the reach of Techmer’s platform.
New York City-based SK Capital Partners has entered into a strategic partnership with Techmer PM, Clinton Tenn., acquiring a majority interest in the company that has been owned largely by chairman and CEO John Manuck, who in 1981 founded the company—now a leading designer and producer of engineered compounds and color and additive concentrates for the plastics and fiber industries. SK Capital will recapitalize Techmer in partnership with Manuck, who will continue to retain a significant ownership stake in the company.
SK Capital’s growing portfolio of companies, which are focused on the specialty materials, chemicals, and pharmaceuticals sectors, includes Geon Performance Materials (formerly part of PolyOne), major nylon 66 fully integrated supplier Ascend Performance Materials, and SI Group, which includes Naugard antioxidants (formerly Uniroyal, then Chemtura), Ethanox antioxidants (formerly Ethyl, then Addivant), and well-known Weston, Ultranox and Lowinox primary and secondary antioxidants for polyolefins and other engineering thermoplastics (formerly Chemtura, then Addivant.
Said SK Capital’s managing director Mario Toukan, “John and his team have built a tremendously successful platform with an industry-wide reputation for innovation, customer service, and quality. We look forward to partnering with the Techmer PM team to continue to serve its customer base and expand the platform’s reach and capabilities.”
Techmer PM--which counts among its collaboration partners leading brand owners as well as organizations such as Oak Ridge National Laboratory and NASA--has taken a leading role in developing innovative materials and reinforcements for use in fast-growing technologies such as composites and additive manufacturing. It serves customers across diverse global markets, including agriculture, automotive, aerospace, building and construction, consumer products, medical, material handling, nonwovens, rigid packaging, and textile markets, as well as many OEMs. The company operates seven manufacturing plants in North America and employs more than 600 people. In late 2017, the company opened its first plant outside the U.S., in Querétaro, Mexico.
Said Techmer’s Manuck, “Techmer is taking this step with SK to satisfy growing demands from brand owners and international clients who want to see the company expand its footprint to allow it to better serve customers no matter where they are in the world. After careful and diligent consideration, we have chosen to partner with SK Capital, which shares Techmer’s core values while bringing significant resources to bear in our new relationship. SK is committed to helping Techmer grow our business globally, while continuing to feed our insatiable drive to innovate and advance.”
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