One Equity Acquires Sonneborn From Sun

Private equity firm One Equity Partners has bought the petrolatum, wax, and white-oil specialist Sonneborn from Sun Capital Partners, another private equity firm, for an undisclosed sum. Sun acquired Sonneborn for $50 million in 2005 from Chemtura. At the time the business had annual sales of about $265 million. Sun added Chemtura’s sodium sulfonate and oxidized petrolatum business to Sonneborn in 2010. One Equity, an arm of JPMorgan Chase, sold its 50% stake in German catalyst maker Süd-Chemie to Clariant for $1.3 billion last year. It also sold carbon black maker Columbian Chemicals to India’s Aditya Birla Group for $875 million last year.