SK Capital Completes the Acquisition of Isolatek International
STANHOPE, N.J., August 29, 2023--(BUSINESS WIRE)--Funds advised by SK Capital Partners, LP ("SK Capital"), a private investment firm focused on the specialty materials, ingredients, and life sciences sectors, have acquired Isolatek International ("Isolatek" or the "Company"). Isolatek is a market leading manufacturer and supplier of passive fireproofing technologies. The terms of the deal were not disclosed.
Headquartered in Stanhope, New Jersey and with more than 100 years of history, Isolatek is recognized as a worldwide leader in the production and distribution of proprietary passive fireproofing materials for commercial, industrial, petrochemical, and tunnel applications. Isolatek’s branded portfolio of fireproofing and acoustical and insulation products are known for their exceptional thermal performance, superior durability, and ease of application. The Company’s portfolio consists of products certified by the relevant regulatory standards (i.e. UL, EN, BS) which are comprised of both cementitious and intumescent offerings, as well as complementary substrates to meet customer needs and preferences for structural projects. In addition to its technologies, Isolatek offers on-site support and technical service to ensure installations meet the required specifications worldwide.
"Isolatek has built a differentiated business with a leading and broad portfolio of UL, EN, and BS-tested products providing significant value to customers. We are excited to be partnering with Isolatek’s current leadership team to build on the Company’s solid reputation in the market and drive the next phase of growth. As experienced investors in the coatings and specialty materials sectors, SK Capital can leverage its existing portfolio and network to create additional expansion opportunities for Isolatek," said Jon Borell, a Managing Director of SK Capital.
"We are excited to partner with SK Capital and look forward to this exciting new chapter for the Company," said Scott Schwartz, CEO of Isolatek. "SK Capital is the ideal partner for Isolatek given its track record in the specialty materials market and differentiated industry insight. We plan to continue to invest in the business and deliver innovative solutions to protect people through our material technologies."
Goodwin Procter LLP acted as legal counsel to SK Capital. Keating Muething & Klekamp PLL acted as legal counsel to Isolatek. Debt financing was provided by Bank of America.
About SK Capital:
SK Capital is a private investment firm with a disciplined focus on the specialty materials, ingredients, and life sciences sectors. The Firm seeks to build resilient, sustainable, and growing businesses that create substantial long-term economic value. SK Capital aims to utilize its industry, operating, and investment experience to identify opportunities to transform businesses into higher performing organizations with improved strategic positioning, growth, and profitability, as well as lower operating risk. SK Capital’s portfolio of businesses generates revenues of approximately $17 billion annually, employs more than 25,000 people globally, and operates more than 200 plants in over 30 countries. The Firm currently has approximately $7.8 billion in assets under management. For more information, please visit www.skcapitalpartners.com.
About Isolatek International:
Isolatek International is a formulator, manufacturer, and distributor of proprietary passive fire resistance materials used for protecting commercial, industrial, petrochemical, and tunnel projects. The Company offers an extensive portfolio of technologies including cementitious and intumescent-based products in addition to other substrates. Customers rely on Isolatek to provide these products to ensure the safety and integrity of projects. Isolatek offers technical and on-site services to support its customers. The Company’s mission is to serve the world by advancing life-saving passive fire protection and construction technologies to protect people and the places where they work, play, and live. Headquartered in Stanhope, New Jersey, Isolatek operates primarily from five production facilities across the United States.
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