SK Capital Partners, a private investment firm with a focus on the specialty materials, chemicals, and pharmaceutical sectors, completed the acquisition of Niacet Corporation, a producer of specialty ingredients for food, feed, and pharmaceutical applications and a global leader in propionates and acetates.
The amount of the deal was not disclosed.
SK Capital is recapitalizing Niacet in partnership with Kelly Brannen, who will continue to serve as CEO and retain a significant stake in the company.
Headquartered in Niagara Falls, New York, Niacet is a producer of organic salts, including propionates and acetates, serving the food, feed, pharmaceutical, and technical industries. With two automated manufacturing sites, located in Niagara Falls, NY and Tiel, The Netherlands, the company offers products to global markets that fill needs in a broad range of applications including food preservation, antibiotic formulation, dialysis treatment and energy production.
It currently serves more than 300 customers in 57 countries employing approximately 190 people across its headquarters and two production facilities.