SK Capital Partners L.P. made a controlling investment in Baltimore, Maryland-based lubricants and specialty chemicals distributor Tilley Chemical Co. The investment amount was not disclosed.
The Tilley family will retain a significant ownership stake and involvement in the company. Privately held since founded by the Tilley family in 1952, Tilley also has capabilities in storage, blending, packaging and regulatory and technical support.
According to a jointly issued new release, the company serves customers across a diverse set of regulated markets within the Mid-Atlantic region, including food and beverage, flavor and fragrance, household, industrial and institutional and life sciences.
Tilley’s lubricant division provides automotive and industrial lubricants and functional products for road transport, aviation and general industrial markets.
According to its website, the company has provided motor oil, transmission fluid and gear oil to businesses in the passenger and automotive industry for more than 60 years. The company has partnered with a variety of manufacturers, including ExxonMobil, MileGuard, Prestone, Old World and Galp. The industrial offerings include a variety of oils, lubricants, greases, fluids and rust preventatives.
The company operates two facilities in North America and employs about 100.
“Tilley is taking this step to satisfy growing demands from its suppliers and customers who want to see Tilley expand its infrastructure and footprint to continue supporting their growth with a high level of service,” John Tilley said in the news release.
In October 2018, SK Capital closed on its acquisition of Schenectady, New York-based SI Group, a global developer and manufacturer of performance additives and intermediates. At the time, the investment firm said it would use the acquisition to create a business that supplies additives for the lubricants industry, among others.
The transaction included the combination of SI Group with Addivant, an SK Capital portfolio company since 2013 and a global producer of specialty additives. Addivant supplies antioxidants, antizonants and other chemicals for industries such as rubber and plastics.