One Rock Capital Partners acquires Illinois manufacturing site and associated speciality chemicals business, from BASF
An affiliate of One Rock Capital Partners (One Rock) has successfully completed the previously announced acquisition of a manufacturing site in Kankakee, Illinois, and the associated businesses of vegetable-oil-based raw material sterols and natural vitamin E, anionic surfactants and esters produced there, from BASF.
Headquartered outside of Chicago, the newly independent company has approximately 190 employees and will operate under the name Kensing. The new name and brand honour the long operating history of the site at Kensington Avenue in Kankakee and reflects the company’s position as a leading manufacturer of a broad range of specialty chemicals derived from natural raw materials. Kensing products serve a diverse array of attractive end markets, including home & personal care, food & nutrition, healthcare and agriculture.
Tony W Lee, Managing Partner of One Rock, says: “In working closely with our Operating Partners and BASF, we have been impressed by the talented team in Kankakee and are eager to build on the company’s well-deserved reputation for high-purity manufacturing and customer service under the Kensing brand.”
In conjunction with the completion of the transaction, Serge Rogasik has been appointed Chief Executive Officer of Kensing. Rogasik possesses extensive experience in the specialty chemicals and personal care industries, having most recently served as Senior Executive Vice President, Personal Care at Vantage Specialty Chemicals. He has held leadership roles at several multinational chemical and biotech organisations, including Addivant, Eastman Chemical Company, General Electric and Solvay, in addition to previously working at BASF for over seven years.
Rogasik says: “I am very excited to lead Kensing at this momentous time. Demand for plant-derived ingredients is growing at a fast pace in our global markets and Kensing provides a very strong platform from which to expand our portfolio and services to our customers.”
R Scott Spielvogel, Managing Partner of One Rock, adds: “Kensing will maintain the longstanding commitment to quality and reliability for which the organisation at Kankakee is well-known, and we look forward to bringing renewed focus and resources to the company to drive continued growth across the core end markets it serves.”