Chase Corporation to Acquire NuCera Solutions from SK Capital for $250M

Author: Charles Gross | July 19, 2022 05:00am
An affiliate of funds advised by SK Capital Partners, LP ("SK Capital") announced today that it has reached an agreement to sell NuCera Solutions ("NuCera" or the "Company") to Chase Corporation (NYSE:CCF), a leading manufacturer of protective materials for high reliability applications. NuCera was acquired for a purchase price of $250.0 million, pending any working capital adjustments and excluding acquisition-related costs. Formed through the carve-out of Baker Hughes' specialty polymer business, NuCera is a recognized leader in the production and development of high-end polymer technologies and polymerization methods serving demanding applications. NuCera differentiates itself with a broad portfolio of approximately 120 functional polyethylene and specialty polymers that serve as mission critical performance additives to customers worldwide. The Company operates globally with headquarters in Houston, Texas, a primary production facility in Barnsdall, Oklahoma, and international sales offices in France and Singapore. "It has been a pleasure to support the development and growth of NuCera," said Mario Toukan, Managing Director of SK Capital. "SK invested heavily in NuCera's people, capabilities and facilities, establishing a leading platform of technology-oriented, specialty polymers. We believe NuCera is well-positioned to continue its growth under Chase Corporation's ownership and we wish them continued success." Steven McKeown, Chief Executive Officer of NuCera, commented, "After a notable period of growth, we are very excited to join the Chase family which offers a strong cultural and strategic alignment to our business. Our portfolio of innovative, high-performance products is well aligned with Chase's core philosophy of making a material difference. On behalf of everyone at NuCera, we greatly look forward to beginning our journey with the Chase team." "The acquisition of NuCera is transformational in advancing Chase's strategic growth priorities. The Company's competitive positioning, North American manufacturing footprint and captive synthesis capabilities will allow us to gain additional scale and know-how to broaden our offerings across multiple new end markets, while maintaining both a strong balance sheet and financial flexibility. NuCera's growth trajectory and internal culture closely align with those of Chase and we are excited to welcome NuCera and their highly differentiated products to Chase Corporation and its customers," said Adam Chase, President & Chief Executive Officer of Chase Corporation. The transaction is subject to customary closing conditions and regulatory approvals. Lincoln International acted as sell side advisor and Goodwin Procter LLP as legal counsel to SK Capital and NuCera. Moelis acted as buy side advisor and Nelson Mullins acted as legal counsel to Chase Corporation.

Posted In: CCF