SK Capital Partners to acquire Performance Products and Solutions unit of PolyOne for $775m.

SK Capital Partners to acquire Performance Products and Solutions unit of PolyOne, a global provider of specialized polymer materials and services, for $775m. PolyOne expects to record a pre-tax gain of approximately $600m at the time the sale is completed. "We conducted what became a very competitive bidding process for our PP&S segment," said Robert M. Patterson, Chairman, President and CEO, PolyOne Corporation. "Ultimately, we determined that divesting the business to SK Capital Partners would provide greater flexibility to accelerate our specialty growth strategy and is in the best interest of customers, employees and shareholders."