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SK Capital Weighs IPO for Chemical Maker Ascend Performance Materials

  • Chemical company could be valued at about $5 billion
  • Houston-based Ascend was one of SK Capital’s earliest deals
Phil McDivitt, president and ceo of Ascend Performance Materials.

Phil McDivitt, president and ceo of Ascend Performance Materials.

Source: Ascend Performance Materials
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Private equity firm SK Capital Partners is considering an initial public offering of portfolio company Ascend Performance Materials, according to people familiar with the matter.

The New York-based firm is holding talks with advisers about a listing in the first half of 2022 that could value the Houston-based chemical maker at about $5 billion, said the people, who asked not to be identified because they weren’t authorized to speak publicly. A final decision hasn’t been made and SK could elect to keep the business, the people said.