Catchment Capital announced the completion of its previously announced acquisition of Isolatek International, a manufacturer and supplier of passive fireproofing technologies, from SK Capital Partners.
Headquartered in Stanhope, New Jersey, Isolatek traces its roots to 1875 and is recognized for its portfolio of proprietary passive fireproofing materials used in commercial, institutional, data center and advanced manufacturing applications. The company’s offerings include intumescent and cementitious products, along with acoustical and insulation solutions designed to meet a variety of regulatory standards and customer requirements.
Catchment Capital said Isolatek represents the type of industrial business it seeks to acquire, citing the company’s market leadership, proprietary technologies and experienced management team. The private equity firm plans to partner with CEO Mike Harvey and the broader leadership team to support continued growth and enhance customer service and innovation.
Harvey described the closing of the transaction as a key milestone for Isolatek and said the company intends to leverage Catchment’s resources and strategic support to accelerate ongoing initiatives.
RBC Capital Markets served as financial advisor and Gibson, Dunn & Crutcher acted as legal counsel to Catchment. J.P. Morgan and Lord Abbett Private Credit Advisor provided committed debt financing for the transaction.
Evercore served as financial advisor and Goodwin Procter acted as legal counsel to SK Capital and Isolatek.
Founded in 2024, Catchment Capital focuses on transforming middle-market industrial technology, services and products businesses through its proprietary Catchment Strategic Transformation, or CaST, process. SK Capital has raised more than $9 billion in capital commitments since its inception and specializes in investments across the material sciences, specialty ingredients and life sciences sectors.
KEY QUOTES:
“We are excited to officially welcome Isolatek to the Catchment portfolio. Isolatek is exactly the type of business we seek to invest in: an industry leader with a proven management team, proprietary technologies, and strong tailwinds. We look forward to partnering with Mike Harvey and the entire Isolatek team to shape a strong, sustainable growth trajectory, and further enhance the delivery of best-in-class service and innovative solutions to Isolatek’s growing customer base.”
Alex Rose, Managing Partner, Catchment Capital
“The closing of this transaction is an important milestone for Isolatek, and we are thrilled to be entering our next phase of growth in partnership with the Catchment team. Catchment brings resources and strategic support to further invest in our capabilities and accelerate what we have already set in motion. I would like to thank all Isolatek employees for their continued hard work, and SK Capital for a highly successful partnership these past few years.”
Mike Harvey, CEO, Isolatek International
