Solutia Inc. becomes Ascend Performance Materials

SK Capital Partners , an investment firm based in New York City and Boca Raton, Fla., has added Solutia Inc.’s integrated nylon chemical, plastic and fiber business to its portfolio. The business has been re-named Ascend Performance Materials, and will be led by former American Standard chairman and CEO Frederic Poses. Solutia/Ascend had $1.8 billion in revenues in 2008. SK Capital Partners has special investment expertise in the areas of specialty materials, specialty chemicals and healthcare.