SK Capital Closes Acquisition of Niacet Corporation
NEW YORK, February 2, 2017 – SK Capital Partners, a private investment firm with a disciplined focus on the specialty materials, chemicals, and pharmaceuticals sectors, announced today that it has completed the acquisition of Niacet Corporation, a leading producer of specialty ingredients for food, feed, and pharmaceutical applications and a global leader in propionates and acetates. Headquartered in Niagara Falls, New York, Niacet currently serves more than 300 customers in 57 countries and employs approximately 190 people across its headquarters and two production facilities.
SK Capital is recapitalizing Niacet in partnership with Kelly Brannen, who will continue to serve as CEO and retain a significant stake in the Company. The Brannen family purchased Niacet from Union Carbide in 1978 and grew the Company into the worldwide leader in its core products.
The Niacet investment is consistent with SK Capital’s strategy of investing in niche market leaders in segments where the firm has significant industry, operating, and ownership experience and where it can be a strong value-added partner. SK Capital is also leveraging the firm’s expertise in the specialty ingredients sector, which includes ownership of AEB Group and Noramco, as well as its previous success in acquiring family businesses alongside management to support the next phase of their growth and improvement.
About SK Capital Partners
SK Capital is a private investment firm with a disciplined focus on the specialty materials, chemicals and healthcare sectors. We target investments where we can leverage our industry and operating experience to improve companies’ strategic positioning, operational execution, growth and cash flow. The firm currently has over $1.9 billion of assets under management. Our portfolio companies generate revenues of over $5.0 billion annually and employ approximately 8,700 people.
More information about SK Capital can be found at www.skcapitalpartners.com.