Funds advised by SK Capital Partners, a private investment firm focused on the specialty materials, ingredients and life sciences sectors, acquired Isolatek International, a manufacturer and supplier of passive fireproofing technologies. Bank of America provided debt financing to support the transaction. The terms of the deal were not disclosed.
Headquartered in Stanhope, NJ, and with more than 100 years of history, Isolatek is a provider of the production and distribution of proprietary passive fireproofing materials for commercial, industrial, petrochemical and tunnel applications.
“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,” Jon Borell, a managing director of SK Capital, said.
“We are excited to partner with SK Capital and look forward to this exciting new chapter for the company,” Scott Schwartz, CEO of Isolatek, said. “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 acted as legal counsel to SK Capital. Keating Muething & Klekamp acted as legal counsel to Isolatek.
