MAHWAH, N.J. Sun Capital Partners affiliate Sonneborn, one of the world’s largest dedicated suppliers of white oils, petrolatums, waxes and other hydrocarbon specialty products, today announced it has acquired the natural Sodium Sulfonate (PetronateTM) and Oxidized Petrolatum (OxpetTM) businesses of Chemtura Corporation, Inc., a Middlebury, Connecticut–based global manufacturer and seller of specialty chemical solutions and consumer products. The sale of the assets to Sonneborn was approved by the U.S. Bankruptcy Court of the Southern District of New York.
Under an existing arrangement, Sonneborn had manufactured the natural Sodium Sulfonate and Oxidized Petrolatum product lines, which were marketed and sold by Chemtura. The PetronateTM sodium sulfonate line serves as emulsifiers, demulsifiers and rust preventatives that are widely used in the metalworking industry, and Sonneborn is the largest global producer of natural sodium sulfonates products. OxpetTM oxidized petrolatum corrosion inhibitors provide rust protection in formulating industrial metal protective compounds, are frequently sold alongside sodium sulfonates, and Sonneborn is one of only two global manufacturers in the market.
“The full integration of the two businesses provides Sonneborn with great value, not only because they complement our existing product lines but also because they stand to benefit from an overall strengthening economic environment,” said Robert Muller, Chief Executive Officer of Sonneborn. “The Sodium Sulfonate product line is a natural fit for Sonneborn, given that sulfonates are a co–product of our core white oil business. The addition of the Oxidized Petrolatum operations allows Sonneborn to expand into a new market.”
Christopher Thomas, Principal at Sun Capital Partners, said, “We are excited about the acquisition of these businesses, as they are global leaders and further solidify Sonneborn’s leading market position in the industry. Furthermore, given that our European facility has been manufacturing these products for Chemtura, the acquisition will be a strong strategic fit.”
About Sonneborn
Sonneborn, Inc. is one of the world’s largest dedicated suppliers of white oils, petrolatums, waxes, and other hydrocarbon specialty products. Many of the largest personal care, cosmetic, pharmaceutical, and food processing companies use Sonneborn’s products for personal care items such as creams and lotions, cosmetics, and pharmaceutical ointments, as well as for food processing, agricultural dust suppression, polymer processing, telecommunications wire and cable, and air conditioning, and refrigeration lubricants.
About Sun Capital Partners, Inc.
Sun Capital Partners, Inc. is a leading private investment firm focused on leveraged buyouts, equity, debt, and other investments in companies that can benefit from its in–house operating professionals and experience. Sun Capital affiliates have invested in more than 230 companies worldwide with combined sales in excess of $40 billion since Sun Capital’s inception in 1995. Sun Capital has offices in Boca Raton, Los Angeles, and New York, as well as affiliates with offices in London, Paris, Frankfurt, Luxembourg, Shanghai and Shenzhen. For more information, please visit www.SunCapPart.com.
For more information contact:
Katrin C. Lieberwirth
Stanton Public Relations & Marketing
646–502–3548 (direct)
klieberwirth@StantonPRM.com
