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SK Capital Acquires Ingredient Manufacturer Florachem

May 5, 2022
May 5, 2022
Philippe Gauthier via Unsplash

Funds advised by SK Capital Partners acquired Florachem Holdings from an affiliate of Carmelina Capital.

WHO: Founded in 1988, Florachem, led by President and CEO Jon Leonard, is headquartered in Jacksonville, Florida, where it has world-class citrus and pine manufacturing and research and development capabilities. Additionally, the company is in the process of completing the construction of a new state-of-the-art, food-grade manufacturing facility that will expand Florachem's capacity, add new capabilities, and support the company's strategic expansion of its natural citrus ingredient product line.

SK Capital is a private investment firm with a disciplined focus on the specialty materials, specialty chemicals, and pharmaceuticals sectors. SK Capital utilizes its industry, operating, and investment experience to identify opportunities to transform businesses into higher-performing organizations with improved strategic positioning, growth, and profitability, as well as lower operating risk. SK Capital's portfolio of businesses generates revenues of approximately $15 billion annually, employs more than 20,000 people globally, and operates 191 plants in 32 countries. The firm currently has approximately $6.6 billion of assets under management.

IN THEIR OWN WORDS: "Jon Leonard and his team have built a tremendously successful platform with an industry-wide reputation for customer service, reliability, and quality," said Mario Toukan, Managing Director of SK Capital. "We look forward to partnering with the Florachem team to continue to service its customer and supplier bases, expand the platform's reach and capabilities, and accelerate growth."

"We are extremely excited to partner with SK Capital, which shares our vision and strong set of values while bringing significant resources and relationships to the table," said Jon Leonard. "SK Capital is committed to helping Florachem grow its business and capabilities, while protecting and enhancing our high-quality reputation in the industry."

Jonathan Borell, a Managing Director of SK Capital, added, "SK Capital has significant experience investing in ingredients businesses, and we believe we have found a great opportunity to partner with Jon Leonard and his team to build a leading natural ingredients platform. With nearly 30 years of experience, Jon is a respected leader in his industry. We feel privileged to play a part in this ongoing story and to work closely with Florachem's employees to bring further opportunities for growth and success to fruition."


  • SK Capital Partners acquired Florachem Holdings from an affiliate of Carmelina Capital.
  • In 2011, Carmelina Capital Partners acquired Florachem Holdings.
  • In 2007, private equity firms Plexus Capital and KLH Capital acquired Florachem.
  • Goodwin Procter LLP acted as legal counsel to SK Capital and committed debt financing was provided by Stellus Capital Management.
  • Massumi + Consoli LLP acted as legal counsel to Carmelina.

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