SK Capital, First Reserve Corp. Acquire TPC Group
TPC Group sells its products to performance, specialty and intermediate markets such as synthetic rubber, fuels, lubricant additives, plastics and surfactants. The company is the largest U.S. producer of finished butadiene, which is used in Wichita, Kan.-based Invista's nylon 6,6 production process.
TPC Group operates manufacturing facilities in Texas in Houston, Port Neches and Baytown; and in Lake Charles, La.
SK Capital, which focuses its investments on the specialty materials, chemicals, and healthcare sectors, has stated that "the acquisition is consistent with [our] strategy of focusing on sectors we know well, leveraging our knowledge and relationships to identify attractive opportunities that have complexity and underperformance relative to their potential, and employing impactful resources to support the successful execution of our investment strategies."
January 8, 2013