FLORENCE, Ky., April 2, 2008 (PRIME NEWSWIRE) -- Aristech Acrylics LLC, headquartered in Florence, KY, is pleased to announce its acquisition by SK Capital Partners, LP, a New York private equity firm specializing in the specialty chemical industry. Principals of SK Capital have been interested in investing in Aristech for many years. When Mitsubishi Corporation, Aristech Acrylics' prior owner, began the sales process, SK Capital was determined to purchase the company. They share confidence in Aristech's business, its management team, its employees and most importantly, its products and customers.
"We are thrilled with the new energy provided by SK Capital's investment," said David Knowles, president of Aristech Acrylics. "While we remain focused on profitability, which underpins our stability and prosperity for our employees, we now can actively seek out new opportunities to develop the company. The seamless transition of ownership makes our work even more exciting."
SK Capital Partners focuses on investing in businesses they know, which includes niche segments of the specialty chemical sector, such as personal care, building materials, agricultural specialties, electronic chemicals and healthcare specialties. "We actively seek to invest in companies that could benefit from our attention and support,'" said Barry Siadat, Managing Director of SK Capital. "Aristech Acrylics has been operated by Mitsubishi Corporation as a non-core, stand-alone entity. Under our ownership, we will refocus attention towards building upon Aristech Acrylics' tradition of innovative products and superior technology to delight its customers and create great opportunities for all stakeholders."
Aristech Acrylics LLC, headquartered at 7350 Empire Drive in Florence, KY, is the leading manufacturer of continuously cast acrylic sheet for hot tub, bath, shower, signage and OEM applications. In addition, Aristech Acrylics is a leading supplier of solid surface sheet. For more information, please visit www.aristechacrylics.com and www.avonitesurfaces.com.
SK Capital Partners, LP, located at 400 Park Avenue in New York, NY, was formed in 2007 to make control investments in the middle market specialty chemicals and health care businesses. Its partners and employees share a wealth of investment and operating experiences in their target markets for investment. For more information, please call SK Capital Partners at (646) 278-1356.