A new business, Emerald Performance Materials, Inc., formerly operating as certain polymer and performance materials business units of The Lubrizol Corporation, has been formed in conjunction with its acquisition by an affiliate of investment firm Sun Capital Partners, Inc.

Emerald's polymer and performance materials businesses will serve niche consumer and industrial end-market applications. The company's product range is used in textiles, industrial rubber, adhesives, personal care and other applications. Included in the sale are six manufacturing sites located in Illinois, North Carolina, Ohio, Washington and Wyoming with approximately 625 employees. Emerald plans to establish its headquarters in Northeast Ohio. Terms of the transaction were not disclosed.