Specialty chemicals company Clariant has sold its textile chemicals, paper specialties and emulsions businesses to SK Capital for approximately CHF 425 million ($470 million). Starting Oct. 1, 2013, the three former Clariant businesses are now operating under the name Archroma. The newly formed global color and specialty chemicals company will operate as a single entity and will continue to deliver specialized performance and color solutions to the textile, paper, adhesives, coatings and construction industries.

SK Capital Partners is a U.S.-based private investment firm with a focus on the specialty materials, chemicals and healthcare sectors.

Archroma will be led by CEO Alexander Wessels. The newly recruited senior leadership team will seek to generate a renewed sense of purpose and vision, and will work closely with the current heads of the three businesses acquired from Clariant, whose unique understanding of their markets and customers has advanced the strategic positioning of Archroma.

“We’re open for business with a new name and a financially strong and knowledgeable parent who believes in our technology, brand and leading market positions,” says Wessels. “I’m proud to join a company with a 120-year long history of providing a portfolio of world-class products and driven by a team of highly talented people who bring fresh thinking and ideas to an industry hungry for innovation.

“The transaction closing comes after a thorough preparation to ensure a seamless transition of the businesses from Clariant to new ownership,” says Wessels. “In addition, we believe that realigning the three businesses into a single integrated, market-focused and dynamic company will benefit both our employees and our customers.”

Archroma will be headquartered in Switzerland along with the management team of Archroma’s paper solutions business. The textile specialties business will be managed from Singapore and the emulsion products business from Brazil.

From fiber to finish, Archroma’s textile specialties business plays a key role throughout the entire textile supply chain, with special chemicals for pretreatment, dyeing, printing and finishing of textiles. Product packages enhance the properties of apparel and other textiles in applications as diverse as high fashion, home textiles and special technical textiles.