“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,” says John Tilley, President of the heretofore family owned specialty chemical company in a press release about the acquisition circulated early this year.
“After long and careful consideration, we have chosen to partner with SK Capital, which shares our vision and strong set of values while bringing significant resources and relationships to the table,” adds John Tilley.
Tilley family retains leadership roles following SK Capital acquisition
The company, founded in 1952, serves the Mid-Atlantic region of the US and works with not only fragrance and personal care customers but also with food and beverage, industrial, institutional, aviation, automotive, and road transport customers.
Both John Tilley and Sean Tilley, current company CEO, will be involved with the company going forward; and the Tilley family does retain stake in the company.
“The Tilley family, including John and Sean Tilley and their team, have built a tremendously successful platform with an industry-wide reputation for customer service, supply chain solutions and quality products,” says Mario Toukan, Managing Director of SK Capital, in the recent press release.
“We look forward to partnering with the Tilley team to continue to serve its customer base and expand the platform’s reach and capabilities,” he says. The Tilley team is currently about 100 people deep and works out of two facilities in the state of Maryland.
SK Capital adds a chemical distribution business to its portfolio
SK Capital invests specifically in specialty materials, chemicals, and pharmaceuticals companies.
The private investment firm has 18 companies in its portfolio at this time, including Tilley Chemical, according to the SK Capital site. For instance, SK Capital has investments in Venator, a company that makes low nano titanium dioxide (TiO2) and the titanium dioxide pigment knows as HOMBITAN AFDC101 used in color cosmetic and complexion product formulations; in NuCera Solutions, known in the personal care industry for its specialty polymers like PERFORMALENE polyethylenes and PERFORMACOL alcohols; and in TechmerPM, a company that makes polymer modifiers for use in both personal care and packaging.
As an ingredient distributor, rather than an ingredient manufacturer, Tilley Chemical stands out from the bunch. “For many years, SK Capital has sought to invest into a strong distribution business, and we believe we have found a great opportunity to partner with Tilley,” explains Jon Borell, a Managing Director of SK Capital, in the press release announcing the acquisition deal.
“The Company,” says Borell, “is a best-in-class regional distributor, which has benefitted from decades of stewardship and leadership under several generations of Tilley family ownership. We feel privileged to play a part in this ongoing story and to work closely with Tilley’s employees, principals and customers to bring further opportunities for growth and success to fruition.”