Leading private equity firm One Equity Partners to sell Sonneborn Holdings L.P., a specialty hydrocarbon chemicals company, to HollyFrontier Corporation for $655 million. Baker McKenzie acted as lead legal counsel to Sonneborn and One Equity Partners on the transaction, which is expected to close in 2019.
Sonneborn, founded in 1903 and based in New Jersey, manufactures white oils, petrolatums, waxes and sodium sulfonated. With facilities in North America and Europe, Sonneborn will add to the global footprint and specialties capabilities of Holly Frontier, a Dallas-based refiner.
The Baker McKenzie transaction team is being led by partner Michael Fieweger and includes Nick Marchica, Ying Deng and John Fedele.