LOCKPORT, N.Y.– VanDeMark Chemical, Inc. (“VanDeMark” or the “Company”), a leading global producer of life science chemistries, announced today that funds advised by SK Capital Partners, LP (“SK Capital”) have made an investment in the Company in partnership with existing co-owner Comvest Partners (“Comvest”). SK Capital’s investment will serve as a catalyst for a new strategic direction as the Company seeks to deepen and expand its presence in fine chemistries for the global life science market. VanDeMark has been a platform company in Comvest’s private equity portfolio since 2019. Comvest will remain a co-owner of the Company.
Headquartered in Lockport, N.Y., with a facility in Kazincbarcika, Hungary, VanDeMark is recognized as a worldwide leader in the production of high-end specialty chemical intermediates and derivatives for a diverse set of end markets including life sciences, electronics, polymers, coatings, personal care, and flavor & fragrances. The Company differentiates itself with a comprehensive portfolio of value-added building blocks and intermediates primarily used in life science applications. With expertise in product research and development, process optimization, quality assurance and control, regulatory guidance, and the production of fine phosgene derivatives, the Company also offers custom manufacturing capabilities for global customers who view VanDeMark as a critical provider of specialty building blocks based on phosgene and other chemistries.
“As we deepen VanDeMark’s product and service offering with a focus on the life science markets, we remain focused on the core competencies and products that have enabled the Company’s tenured success,” said Mario Toukan, Managing Director of SK Capital. “Although VanDeMark is well established, we feel the Company’s story is just getting started and see a tremendous opportunity to drive transformation and create a global leader for the provision of a broader set of high-end life science chemistries. Looking forward, we will seek to accelerate the Company’s transformation with strategic investments in adjacent portfolios of fine chemistries and additional manufacturing services that can be additive to our existing customers.”
“Comvest’s support and investment in VanDeMark’s infrastructure, manufacturing processes, and management team over the last three years has strongly positioned the Company for its next chapter of growth,” said Roger Marrero, a Senior Partner of Comvest Partners. “As we continue to build upon VanDeMark’s robust foundation and enhance the quality and diversity of its product portfolio, we are thrilled to partner with SK Capital. SK Capital brings a shared vision for the Company’s future, strategy, and expansion in the life sciences markets, as well as deep expertise in the sectors and markets in which VanDeMark operates.”
Jon Borell, a Managing Director of SK Capital, added, “SK Capital has followed VanDeMark for many years, and we believe this is a great opportunity to partner with Comvest to bring our shared strategic vision to life. We feel privileged to play a part in VanDeMark’s story and will work closely with the Company’s employees and customers to bring further success to fruition.”
Jeff Davis, VanDeMark’s CEO, commented, “We are excited to bring SK Capital into our ownership structure, alongside Comvest Partners and management. Comvest has been very supportive of our growth and has assisted us in building a strong foundation. SK Capital’s investment is a validation of the strength of the global innovation platform we have built and their sector focus and experience will allow us to rapidly build out a life sciences-focused platform, both organically and inorganically. I speak for all of us at VanDeMark when I say that we are very excited about the next chapter of the Company’s future.”
King & Spalding LLP acted as legal counsel to SK Capital and Kirkland & Ellis LLP acted as legal counsel to Comvest. Debt financing was provided by a bank group led by CIT.
