SK Capital Names New Business Units

Private equity firm SK Capital Partners has given names to a newly acquired business and to one it is soon to acquire. The antioxidants and light stabilizers business SK just bought from Chemtura for $200 million will now be known as Addivant. It agreed to buy the business, which has annual sales of about $390 million, in November 2012. Clariant’s textile chemicals, paper specialties, and emulsions businesses, which SK is in the process of buying, will be known as Archroma. SK arranged to acquire the businesses, which have about $1.3 billion in annual sales, late last year. It expects to close the deal by September.