GenNx360 Flips Silicon Portfolio Co. To Chemical Maker

Law360, New York (October 6, 2011, 5:22 PM EDT) -- Business-to-business private equity firm GenNx360 Capital Partners said Thursday it sold SiVance LLC to South Carolina-based chemical maker Milliken & Co. for an undisclosed sum two years after buying the silicone chemistry company from a unit of Clariant Corp.

New York-based GenNx360 said it had realized significant overhead cost savings and improved SiVance's financial performance prior to the company's sale to Milliken.

“Consistent with our investment thesis, we were also able to drive significant value creation by strategically refocusing the business on proprietary products and services,"...
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