MUTTENZ, Switzerland – Specialty chemicals company Clariant has signed an agreement to divest its Textile Chemicals, Paper Specialties and Emulsions businesses to SK Capital for approximately CHF 502 million. The boards of both companies have approved the divestment. Subject to regulatory approvals, the transaction is expected to close by the end of the second quarter of 2013, faster than executives at Clariant had expected.

Repositioning the company’s portfolio is a key part of Clariant’s growth strategy. In a second phase of the growth strategy, the company plans to divest its Business Unit Leather Services and the Business Line Detergents & Intermediates.

SK Capital is a private investment firm with a focus on specialty materials, chemicals and healthcare sectors. It is located in New York, NY, and Boca Raton, FL.