Tilley Distribution to Accelerate Growth With New Partnership
Tilley Distribution has struck a partnership with SK Capital Partners that allows us to expand our business nationally and internationally.
New York-based SK Capital Partners made a controlling investment in Tilley in a deal that closed at the end of December. The private equity firm, which has $4.8 billion in assets under management, brings extensive experience growing companies across the chemical distribution industry.
The Tilley family will continue to retain a significant ownership stake and involvement in the company.
With a deal in place, the Tilley Distribution is expected to grow into new markets through selective acquisitions and increase employee headcount. Tilley Distribution currently employs more than one hundred people at two facilities in North America.
“Tilley is taking this step to satisfy growing demands from its suppliers and customers who want to see us expand our infrastructure and footprint to continue supporting our growth with a high level of service,” said John Tilley, president of the company, who will become a member of Tilley’s board of directors.
Sean Tilley continues to lead the nearly 70-year-old company as chief executive officer.
Jon Borell, managing director of SK Capital, said the firm was attracted to Tilley’s strong distribution business.
“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,” he said.
Tilley’s business stretches across two divisions, Tilley Ingredients & Specialties and Tilley Lubricants. Those divisions offer custom blending and packaging services and research and development lab services to help customers build a supply chain solution unique to their business.
Under the new deal, the company will continue to operate under the Tilley name and headquarters will remain in Baltimore.