Catchment Strikes Deal for Fireproofing Company Isolatek

Catchment Capital has agreed to acquire Isolatek International, a producer and distributor of passive fireproofing materials, from SK Capital Partners.

Isolatek’s fireproofing materials are used in the commercial, institutional, data center, and advanced manufacturing sectors, including lithium-ion battery production facilities and semiconductor manufacturing plants. The company’s branded products include intumescent coatings, which expand when exposed to heat to protect structural steel, and cementitious fireproofing products applied to building frameworks. These products are designed to provide thermal protection, durability, and ease of application across construction projects and to meet all regulatory standards, including UL (Underwriters Laboratories), EN (European Norm), and BS (British Standards Institution).

Isolatek also supplies acoustical and insulation products and provides on-site technical support to ensure installations meet required specifications. Isolatek was founded in 1875 and is headquartered near Newark in Stanhope, New Jersey.

SK Capital acquired Isolatek in August 2023 and added to the platform in March 2024 with the purchase of Albi Protective Coatings from StanChem Resins, a division of Deltech. SK Capital acquired a majority interest in Deltech in August 2021 and has since realized its investment, according to SK Capital’s portfolio disclosures.

“Isolatek has undergone a period of meaningful growth and transformation during our partnership, driven by strategic investments in innovation, operations, and commercial capabilities,” said Jon Borell, managing director at SK Capital. “We are proud to have supported Mike and the Isolatek team in expanding the Company’s technology portfolio and strengthening its position in high-growth end markets. We believe Catchment is the right partner to build on this momentum and wish the team continued success in its next chapter.”

“This is an exciting day for the entire Isolatek family, underscoring the strength of our leadership in passive fireproofing,” said Mike Harvey, the CEO of Isolatek. “We are thrilled to partner with Catchment to execute on our shared vision to increase investment in our leading product portfolio and further strengthen how we support our customers. I’d like to thank SK Capital for a highly successful partnership these past few years, which positioned us well for the future.”

Catchment Capital invests in North American- and European-based industrial technology, services, or products companies with EBITDA of up to $75 million. The firm was founded in 2024 by Managing Partner Alex Rose and is headquartered in New York City. Before founding Catchment, Mr. Rose was co-president of Crestview Partners, where he led the firm’s industrials investment strategy. Earlier, Mr. Rose worked at General Electric in acquisitions for the specialty materials and infrastructure divisions and began his career in investment banking at Goldman Sachs.

“Isolatek is a terrific addition to Catchment’s growing portfolio of companies that are well positioned to capitalize on dynamic industry growth trends,” said Mr. Rose. “We are excited to support Mike and the Isolatek team as we bring our passion for shaping strong and sustainable growth trajectories and work together to further enhance the delivery of best-in-class service and innovative solutions to the company’s growing customer base.”

“Isolatek’s best-in-class product performance and service has resulted in an outstanding reputation with customers and partners, positioning the Company as a market leader providing mission-critical passive fireproofing solutions,” added Rohan Bhargava, an investment partner at Catchment. “Isolatek is well positioned to benefit from attractive secular growth drivers, including the structural shift towards intumescent technologies.”

SK Capital in the specialty materials, chemicals, and pharmaceutical sectors and typically invests equity of $100 million to $200 million in each portfolio company. Its most recent fund, SK Capital Partners VI LP, closed in April 2024 with $2.9 billion in capital commitments. SK Capital was co-founded by Barry Siadat and Jamshid Keynejad and is based in New York City.

RBC Capital Markets was the financial advisor to Catchment, and Evercore advised SK Capital and Isolatek. J.P. Morgan and Lord Abbett Private Credit Advisor have provided committed debt financing to support Catchment’s acquisition of Isolatek.

The transaction is expected to close before the end of the second quarter of 2026.