The firm has signed asset and share purchase agreements to buy Clariant’s textile chemicals, paper specialties and emulsions businesses, which generate about $1.3bn of revenues and employ roughly 3,000 people.
SK managing director Barry Siadat said, “We are delighted to partner with the management and employees of these businesses to build upon their strong technology, brand, and leading market positions to more efficiently serve their large and growing global markets and customers.
“We believe these businesses provide an attractive platform to capitalize on their overlaps in technology, manufacturing, supply chain and logistics.”
The deal is expected to close by the end of the second quarter of 2013.
SK’s latest purchase marks a busy couple of months for the US firm, which has also agreed a joint purchase of TPC Group alongside fellow private equity investor First Reserve Corp.
Shareholders voted in favour of a $45 per share offer earlier this month, paving way for a deal which values the company at about $705m.
TPC had repeatedly recommended shareholders vote in favour of the offer ahead of a competing bid from Colorado-based fuel-additives specialist Innospec and global buyout investor Blackstone.
Last month SK agreed to buy the antioxidant and UV stabiliser arm of chemical additives maker Chemtura for about $200m.
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