NEW YORK, Jan. 9, 2018
NEW YORK, Jan. 9, 2018 /PRNewswire/ -- LeBaronBrown Industries LLC ("LeBaronBrown") announced today that it has acquired a majority interest in American International Chemical, Inc. ("AIC"), a leading specialty chemical and ingredients distributor based in Framingham, Massachusetts. AIC's management team, led by its President and Founder Mike Schrage, will continue to manage the business.
Terms of the transaction were not disclosed. As part of the agreement, AIC has changed its legal status from American International Chemical Corporation to American International Chemical LLC.
LeBaronBrown is a private investment firm with a multi-decade orientation and a strategy to bring capital and resources to company management teams to enable growth over a multi-decade period. AIC joins Charkit Chemical Company LLC, acquired in June of 2017, under the same parent company.
AIC is entering its 46th year of operations and undertook this transaction to position the company for long-term, continued growth. "The investment puts AIC in the best position for future growth, building upon the success of our dedicated AIC team," commented Mike Schrage, President of AIC. "We are excited about our future and the partnership with LeBaronBrown."
Simon Brown and Matt LeBaron, co-founders of LeBaronBrown, stated "We are thrilled by the addition of AIC to the LeBaronBrown platform. The company's high-quality, multi-decade performance history and reputation as a premier specialty chemical and ingredients provider made it an ideal choice. We look forward to the opportunity to provide resources and support to the existing management team to fuel continued growth."
For more information about LeBaronBrown, please contact Simon Brown or Matt LeBaron at 212.841.8500.
About American International Chemical
Founded in 1972, American International Chemical LLC is an ISO Certified specialty chemical, raw materials, and ingredient supplier servicing the food, pharmaceutical, nutrition, personal care, biotech, and industrial markets of North America. Through a team of 30 sales representatives and 19 strategically located warehouses, AIC offers a wide range of globally sourced products and ensures both quality and adherence to regulatory requirements. To meet the changing requirements of its customers, AIC also offers a range of custom manufacturing capabilities to the North American market.
About LeBaronBrown Industries
LeBaronBrown Industries LLC is a private investment firm with a multi-decade investment horizon. LeBaronBrown's objective is to support the creation of long term equity value and compounding of performance. LeBaronBrown's capital and resources will be dedicated to supporting the growth of its operating companies over the long term, including by actively seeking complementary acquisitions.
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