BBH Capital Partners has invested in Branchburg, New Jersey-based American Spraytech, a provider of aerosol products. No financial terms were disclosed.
NEW YORK, Jan. 19, 2021 /PRNewswire/ — BBH Capital Partners (BBHCP) today announced that it has completed a strategic growth investment in American Spraytech (AST), in partnership with the existing management and founding shareholders of the company. Headquartered in Branchburg, New Jersey, AST is a leading turnkey innovator, formulator and contract manufacturer of aerosol products specializing in the personal care, cosmetic and over-the-counter (OTC) medical segments.
Regarding the new partnership, AST President and CEO Allen S. Lalwani commented, “The AST team is thrilled to join forces with BBHCP for our next phase of growth. We could not have found a more ideal partner than the oldest and most reputed private bank in the United States. BBHCP shares our commitment to the customers, employees and culture of AST. Their strategic and financial support will allow us to pursue several attractive organic and inorganic growth opportunities that will enhance our product offering and help us better serve our customers. AST will work hard to further strengthen its recognized leadership in innovation while continuing to deliver original formulations, high-quality finished products and best-in-class service to all of our customer partners.”
“Allen and his management team are proven executives with a long track record of driving growth, and we are looking forward to our partnership with the entire AST team. We were attracted to AST due to its reputation for innovation and formulation capabilities within the outsourced aerosol manufacturing market,” said Brad Langer, Managing Director of Brown Brothers Harriman & Co. (BBH) and Co-Manager of BBHCP. “In addition to AST’s in-house research and innovation capabilities and full suite of manufacturing solutions, we believe the company’s focus on the personal care, cosmetic and OTC medical end markets is quite attractive due to the stability of these categories.”
About American Spraytech: American Spraytech (AST) was founded in 2003 and provides turnkey contract aerosol and bag-on-valve (BOV) manufacturing solutions, including formulation, testing, filling and packaging services. AST’s in-house research and innovation team collaborates with its customers to proactively develop new products or improve on existing products or product categories to enhance consumers’ experience and complement their evolving lifestyle. The company primarily serves customers within the personal care, cosmetic and OTC medical end markets.
About BBH Capital Partners: BBH Capital Partners (BBHCP), a private equity strategy of Brown Brothers Harriman & Co., provides friendly capital solutions to growth-oriented middle-market companies. Our flexible investment mandate gives us the ability to act as a control or non-control investor and to structure our investments as a combination of equity and subordinated debt securities as needed. BBHCP typically invests between $40 million and $150 million per platform investment, and our capital is used to support a variety of transactions, including management or leveraged buyouts, growth financings, recapitalizations, buy-and-build strategies and acquisitions.