SK Capital Partners acquires plant-based ingredient manufacturer Florachem
SK Capital Partners, through funds advised by it, has acquired Florachem, a Florida-based manufacturer and supplier of natural plant-based ingredients, from an affiliate of Carmelina Capital for an undisclosed price.
Florachem produces ingredients such as pine, citrus, and specialty rosin resins. The company serves customers involved in the businesses of flavor and fragrance, industrial, personal care, and coatings and adhesives.
Established in 1988, Florachem has pine and citrus manufacturing as well as research and development capabilities in Jacksonville. Apart from that, the plant-based ingredient manufacturer is constructing a new food-grade manufacturing facility to grow its capacity, add new capabilities, and support the expansion of its natural citrus ingredient product line.
The plant-based ingredient manufacturer is led by Jon Leonard, who is its president and CEO.
Jon Leonard said: “We are extremely excited to partner with SK Capital, which shares our vision and strong set of values while bringing significant resources and relationships to the table.
“SK Capital is committed to helping Florachem grow its business and capabilities, while protecting and enhancing our high-quality reputation in the industry.”
SK Capital focuses on investing in the specialty chemicals, specialty materials, and pharmaceuticals sectors. Presently, the private investment firm has nearly $6.6 billion of assets under management.
Mario Toukan — Managing Director of SK Capital said: “Jon Leonard and his team have built a tremendously successful platform with an industry-wide reputation for customer service, reliability, and quality.
“We look forward to partnering with the Florachem team to continue to service its customer and supplier bases, expand the platform’s reach and capabilities, and accelerate growth.”