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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

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.