Capstone Partners advised Deltech Holdings LLC, a producer of enhanced performance aromatic monomers and performance polymers, on the sale of its Monomers, Polymers, and European Businesses to SK Capital.
Deltech operates production units in Baton Rouge, LA to manufacture methyl styrenes and other specialty aromatic monomers, a plant in Dayton, OH which manufactures polystyrene, and European manufacturing operations. Deltech began operations in 1988 producing PMS (para-methylstyrene) using a process licensed only to Deltech. In 1992, the plant was expanded to allow production of the complimentary methyl styrene product, VT (vinyl toluene). PMS contains 95% para isomer while VT is a mixture of the meta and para isomers. Methyl styrene monomers provide improved performance in resins and plastics for specialty paints, hydrocarbon resins for adhesives, specialty polymers and unsaturated polyester resins.
Doug Usifer, Manging Director, Capstone Partners, said
"Deltech represents a unique specialty chemicals opportunity. Deltech’s aromatic monomers are value-added to many end markets, delivering high-performance and enabling robust advantages and higher margins
SK Capital has acquired a majority interest in the Baton Rouge, LA-based business. Bob Elefante, one of Deltech’s original founders and current President and CEO, is retaining a significant ownership stake in the Company and will remain actively involved in the business, including serving on the Board of Directors."
Bob Elefante, President and CEO, stated
“SK Capital is the ideal partner for Deltech given its track record of successfully supporting the growth of entrepreneur-owned businesses in the specialty chemicals industry. We have a shared vision for the future of Deltech, built upon the Company’s unique product portfolio and long-term commitment to serving our customers.”