CHARLOTTE, N.C. (Sept. 1, 2009)—Clariant International Ltd. has sold its specialty silicones business to SiVance L.L.C., an affiliate of private equity firm GenNx360, for an undisclosed price.
The deal, effective today, includes Clariant's Gainesville, Fla., facility. The business specializes in the use of silicone-based chemistry for ingredients used in the construction, personal care, pharmaceutical and electronics markets.
All 120 people employed by the specialty silicones business are expected to transfer to SiVance. The unit's focus on developing complex but small-volume silicone products didn't align with Clariant's business model and strategic direction, according to Ken Golder, Clariant's North American region head.