July 23, 2021
SI Group, a performance additives company, announced plans to complete an agreement to sell the majority of its global Industrial Resins business to ASK Chemicals, a portfolio company of private equity firm, Rhone Group.
The transaction includes SI Group’s Industrial Resins products and associated manufacturing sites in Rio Claro, Brazil; Ranjangaon, India; and Johannesburg, South Africa, as well as licensed technology and multiple tolling agreements globally. ASK Chemicals, headquartered in Hilden, Germany, is in the foundry materials sector and manufactures binders, coatings, feeders, filters, and release agents, as well as metallurgical products including inoculants, inoculation wires and master alloys for iron casting.
“We remain confident this is the right strategic move for our employees and our business. ASK Chemicals has proven industry expertise that will add significant value and continuously enhance these businesses,” says David Bradley, President & CEO of SI Group. “The deal also allows us to focus more intentionally on building and growing our portfolio as a performance additives powerhouse.”
SI Group will retain its Industrial Resins businesses in the U.S. and China.
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