SK Capital Partners, a private investment firm focused on the specialty materials, chemicals and healthcare sectors, announced that it has completed the sale of Calabrian Corporation to INEOS Enterprises, a subsidiary of INEOS Group.
Calabrian is the North American market leader in liquid sulfur dioxide and also produces a range of SO2 derivatives. Utilizing a proprietary production technology, Calabrian provides environmental and supply chain solutions to customers in the water treatment, personal care, mining, food preservation, oilfield, and disinfection markets.
SK Capital partnered with the founding family of Calabrian in 2011 to recapitalize the Company and drive its next phase of growth and improvement. Since SK Capital’s investment, completed initiatives have included building a strong and deep management team, diversifying the customer base, growing capacity and sales volumes, and expanding Calabrian’s geographic and end market presence.
Commenting on the sale, Jack Norris, a Managing Director of SK Capital, said, “We set out to transform the Company while capturing significant market opportunities through investments in talent, capabilities and capacity. We’re proud of the market leadership and growth trajectory Calabrian has established, and grateful to the Cogliandro family and the management team for the opportunity to partner together and successfully build a strong, thriving business.”
SK Capital Managing Director Barry Siadat added, “When its new production facility in Eastern Canada comes online at yearend, Calabrian’s earnings will have tripled since our acquisition, despite nearly doubling SG&A. The Company’s growth and improvement led to acquisition interest from corporates and drove strong investment returns.”
Randy Owens, Chief Executive Officer of Calabrian, stated, “Calabrian is well positioned to continue to grow and flourish under INEOS’ ownership. I’d like to thank our employees for their dedication and commitment and SK Capital for its strategic, operational and financial support throughout their ownership period.”
Terms of the transaction were not disclosed.
Source: SK CAPITAL
CF Industries Holdings, Inc. (NYSE: CF) today announced that it has closed its acquisition of Incitec Pivot Limited’s (“IPL”) ammonia production complex located in Waggaman, Louisiana. Under the terms of the agreement, CF Industries purchased the Waggaman ammonia plant and related assets for $1.675 billion, subject to adjustments.
The Virgin Atlantic flight was powered entirely by SAF, that was a drop-in replacement for conventional jet fuel, but made solely from sustainable feedstocks. This was enabled through the inclusion of a new bio-based aromatic jet fuel blending component.
Cepsa SA (Madrid) has agreed a deal with C2X, an independent firm owned by AP Moller Holding with AP Moller-Maersk as minority owner, to develop a 300,000 metric tons per year renewable methanol plant at Huelva, Spain.
