SK Capital Partners Recapitalizes Calabrian Corporation
NEW YORK, May 3, 2011– SK Capital Partners, a transformational private investment firm, today announced that it has partnered with Chief Executive Officer Charles Cogliandro to recapitalize Houston-based Calabrian Corporation, the leading U.S. producer of sulfur dioxide and related derivatives used in industrial and municipal wastewater treatment, personal care, oil field, food preservation and other specialty applications.
“Calabrian represents an opportunity to acquire a niche market leader in a fragmented, high value segment of the specialty materials and chemicals sector. We believe our industry and operating resources can enhance and expedite the company’s continued growth,” said Dr. Barry Siadat, Managing Director of SK Capital Partners.
“We are very pleased to have SK Capital as our partner,” said Mr. Cogliandro. “SK Capital has deep knowledge of, and relationships in, the specialty chemicals sector and can help facilitate our transition from a family-owned business to a professionally managed company with the resources to capitalize on our current market opportunities. I am excited to work closely with their team in realizing our shared vision while preserving the high level of customer service that has driven our historical success.”
“In addition to having a strong core business, we view Calabrian as a platform from which we can execute multiple strategic growth opportunities,” said Jack Norris, Managing Director of SK Capital Partners. “This is the type of company, situation and transaction in which we actively seek to invest.”
Wells Fargo provided the debt financing to complete the transaction. Morgan, Lewis & Bockius LLP provided legal counsel to SK Capital.
Corporation Calabrian Corporation is a leading supplier of sulfur dioxide and related derivatives used in wastewater treatment and other applications. The Company manufactures sulfur dioxide and downstream derivatives such as sodium sulfite, sodium bisulfite, sodium metabisulfite and sodium thiosulfate in its integrated manufacturing facility in Port Neches, TX. Its products are used in a broad range of industrial and municipal wastewater treatment applications to achieve compliance with federal and local water regulations, as well as other specialty applications in personal care, pulp and paper processing, food preservation, oilfield production and disinfection. The Company has 68 employees and has been in business for over 40 years, establishing quality, service and reliability as its trademark.
For more information, please visit www.calabriancorp.com.
About SK Capital Partners
SK Capital is a private investment firm with a disciplined focus on the specialty materials, chemicals and healthcare sectors. Our integrated, multi-disciplinary team utilizes its prior industry, operating and investment experience to transform businesses into higher performing organizations. Located in New York, NY and Boca Raton, FL, we are currently investing from SK Capital Partners III, L.P., a $500 million fund of committed capital. Our portfolio companies generate revenues of over $3.0 billion annually and employ more than 3,400 people.