Date Announced: 14 Sep 2009 -- Former Specialty Silicones Business of Clariant Will Operate as Stand Alone Firm After Being Acquired by GenNx360 Capital PartnersNew York, USA -– GenNx360 Capital Partners (New York, USA), a private equity firm focused on industrial business-to-business companies with $100 million to $1 billion in revenues, announced today that it has acquired the Specialty Silicones business of Clariant (Muttenz, Switzerland). The new Gainesville, Florida-based business will be known as SiVance LLC. SiVance starts out as a leader in the application of silicone chemistry, supplying silicone intermediates such as functional silanes, siloxanes and silazanes to a broad range of markets including silicone rubbers and vinyls, pharmaceuticals, personal care, electronics, coatings, optics and more. The company’s business is a mix of custom synthesis intermediates and multi-customer chemical products, manufactured in Gainesville and marketed globally. Financial terms of the transaction were not disclosed. According to Art Harper, managing partner of GenNx360 Capital Partners, the new SiVance business is uniquely positioned to meet the complex chemistry and product performance needs of a number of industries. “Advanced silicone chemistry is critical to the performance of a broad range of industries and has the potential to improve performance and reduce costs in several others. SiVance has a special place between basic producers and formulators where it can leverage its deep understanding of silicone chemistry and its excellence in organic and inorganic synthesis to create value where precise performance is required,” he said. “This excellence in R&D, process development and manufacturing is supported by a facility with multiple-scale manufacturing capabilities, strong quality systems and a focus on customer service. We look forward to working with the management team of SiVance and bringing this company to the next level,” he said.Chemistry for Precise PerformanceThe SiVance business was founded nearly 60 years ago by two University of Florida chemistry professors. Today, the 65-acre ISO 9002-registered facility in Gainesville has a global reputation as a flexible, responsible and confidential partner with a broad, global customer base. Key products produced in Gainesville include silanes and siloxanes, hexamethyldisilazane (HMDS), vinyl functional silanes and siloxanes, and alkyltrialkoxysilanes (see Table 1 for key products). The multi-purpose facilities feature strengths in silicone and fluorine chemistry and experience in bulk acetylene and chlorosilane handling (see Table 2 for core technologies). The site has an active, integrated R&D program that leverages the company’s expertise to create new products or to tailor individual molecules for single customers. Table 1 – Key SiVance ProductsAlkyl silanesAlkylsiloxane fluidsAlkylsiloxane waxes Aminopropyl silicones Cyclic hydride materials Hexamethyldisilazane (HMDS)Hydride functional silicones Low k dielectric productsMQ resinsRCM synthesis productsSilicone copolyolsSilicone crosslinkersTable 2 – Core SiVance TechnologiesAcetylene handling Chlorosilane handlingAlkoxylation Direct Si process Grignards Halogenation HydrosilylationSilanol condensation Silicone equilibrationTrimethylsilylationAccording to S. Craig Stafford, Chief Executive Officer of SiVance, the new organization and the support of GenNx360 Capital Partners allows the Gainesville team the opportunity to focus on developing next generation performance solutions using silicone and other technologies. “At the new SiVance, our business is going to be creating and supplying chemistry that meets the need when precision performance is required. This is state-of-the-art chemistry that delivers a high level of value to customers with whom we will work closely,” he said. “With the support of Art Harper and GenNx360 Capital Partners, we expect to be able to intensify our focus on developing exciting chemistry on our own and to being able to move rapidly when companies come to us to solve a problem or to develop a new idea. We will be better positioned to unleash the potential of silicone chemistry,” he added. About GenNx360 Capital PartnersNew York-based GenNx360 Capital Partners is committed to delivering superior returns to investors in all its portfolio companies. The firm acquires companies with proven and sustainable business models in expanding industries and implements the required operating changes to deliver cost efficiencies and accelerated growth opportunities. The firm’s proven business methodology is based on more than 100 years of partner experience successfully running global businesses. For more information please visit, www.gennx360.com. About SiVance LLCGainesville, Florida based SiVance LLC is a leader in the application of silicone chemistry, supplying silicone intermediates such as functional silanes, siloxanes and silazanes to a broad range of markets including silicone rubbers and vinyls, pharmaceuticals, personal care, electronics, coatings, optics and more. The company’s business is a mix of custom synthesis intermediates and multi-customer chemical products, manufactured in Gainesville and marketed globally. SiVance has an active, integrated R&D program that leverages the company’s expertise to create new products or to tailor individual molecules for single customers.
Contact
Tom Nicolay Phone:973-882-1313
E-mail:[email protected]
Web Site:www.gennx360.com
