On June 1, 2018, SK Capital Partners, a private investment firm focused on the speciality materials, chemicals and pharmaceuticals sectors, announced that it had entered into an agreement to acquire SI Group, a leading global developer and manufacturer of performance additives and intermediates, which operates 20 manufacturing facilities on five continents with more than USD 1 bn in annual sales and over 2,800 employees worldwide. The transaction includes the combination of SI Group with Addivant, a SK Capital portfolio company since 2013 and a leading global producer of specialty additives. The acquisition was completed on October 15, 2018, whereas the conditions subsequent for the acquisition financing were fulfilled on March 8, 2019.
The acquisition was financed, amongst others, through a USD 1,725,000,000 committed debt financing, which was provided by JPMorgan Chase Bank, N.A., HSBC Securities (USA) Inc., Deutsche Bank Securities Inc., Bank of America, N.A., KeyBanc Capital Markets Inc., Citigroup Global Markets, Inc., and Citizens Bank, N.A.
Homburger advised SK Capital Partners with regard to all Swiss law related aspects of the acquisition financing. The Homburger team was led by partner Jürg Frick (Banking and Finance) and included partner Stefan Oesterhelt (Tax) as well as associates Stefan Bindschedler and Andrea Ziswiler (both Banking and Finance).