SK Capital Partners has sold Phoenix Flavors & Fragrances Inc to Turpaz Industries Ltd, exiting its investment in the Norwood, New Jersey-based maker of customized flavor and fragrance solutions. The transaction represents a complete exit for the private equity firm from a company serving customers across food and beverage, personal care, and industrial applications. Financial terms were not disclosed.

Phoenix Flavors & Fragrances, led by CEO JP Benveniste, operates in a highly fragmented industry where specialty ingredient makers increasingly attract both strategic and financial buyers seeking consolidation opportunities. The company's focus on customized solutions positions it as a valuable asset for buyers looking to expand product offerings and technical capabilities in the global flavors and fragrances market.

Turpaz Industries Ltd's acquisition of Phoenix reflects a broader trend of consolidation in the specialty chemicals sector, where companies seek scale and broader product portfolios to compete globally. SK Capital's exit concludes what appears to have been a multi-year holding period, though the original purchase price and timeline remain private.