Sun bought into the business in May 2006, and has expanded it in that time to eight manufacturing operations and 750 employees.
The deal is expected to close in the third quarter of this year.
American Securities managing director Scott Wolff said, “Emerald represents a compelling investment opportunity and leverages our industry knowledge and track record in the specialty chemicals sector.
“We believe Emerald offers attractive growth opportunities, defensible market positions and a diverse portfolio of high quality businesses.”
The deal comes six months afterSun agreed to sell cotton yarn business Frontier Spinning Mills to American Securities.
AltAssets reported in December that the asset was on the block as Sun probed for an exit from the business it has held since 2008.
Frontier Spinning is one of the world’s largest producers of spun yarns for the knitting and weaving industries, with its products being used in sportswear, underwear, socks, sweaters, denim and home furnishings.
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