Sherman Capital Said to Weigh Split, Sale of Cypress Performance

Sherman Capital Holdings, the private investment arm of George Sherman’s family office, is planning to split up and sell the assets of Cypress Performance Group, according to people familiar with the matter.

The closely held group is working with advisers to sell Cypress’s two holdings: the chemicals companies IPS Corp. and Encapsys, said the people, who asked not to be identified because they weren’t authorized to speak publicly. IPS is expected to fetch about $1.2 billion while Encapsys could be worth about $750 million, the people said. IPS will be sold first, they added.

Representatives for Sherman, ...