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NORWALK, Connecticut, Aug. 10, 2017 /PRNewswire/ -- Charkit Chemical Company LLC ("Charkit" or the "Company") announced today that LeBaronBrown Industries LLC ("LeBaronBrown") has made an investment as a new, long-term majority shareholder in Charkit. Charkit's management team, led by its President and Founder Charlie Hinnant, will continue to manage the business.
Terms of the transaction were not disclosed. As part of the agreement, the Company has changed its legal status from Charkit Chemical Corporation to Charkit Chemical Company LLC.
Founded in 1982, Charkit is currently celebrating its 35th year of operations and has undertaken this transaction to position the Company for ongoing growth, including entry into new markets, forging agreements with distribution partners, and pursuing selective acquisitions of other specialty chemical distributors. LeBaronBrown is a private investment firm with a multi-decade orientation and will dedicate its capital and resources to supporting the growth of Charkit over the long term.
"We're excited about the vision for Charkit's future and thrilled to be partners with LeBaronBrown," said Mr. Hinnant. "The investment in our company recognizes the hard work our management team has put into successfully building Charkit over the last 35 years and also recognizes the tremendous opportunities for growth that lie ahead for us."
Simon Brown and Matthew LeBaron, founders of LeBaronBrown, added "Charlie and the team at Charkit have built a superb company over time. We are delighted at the opportunity to partner with Charkit and provide resources to support the ongoing growth of the Company. Building on the Company's operating excellence, we will be actively seeking complementary acquisitions in the specialty chemical distribution industry."
For more information about Charkit Chemical Company, please contact Shawn McManus at 203.299.3227 or sales@charkit.com. For more information about LeBaronBrown, please contact Simon Brown or Matt LeBaron at 212.841.8500. To arrange a press interview, please contact Maria Garvey at 914.747.1400 or maria@delfino.com.
Founded in 1982 by its President, Charles Hinnant, Charkit Chemical Company LLC offers a wide range of products to the personal care, food, flavor and fragrance, water treatment, imaging, metal treatment, nutritional and pharmaceutical industries as well as to producers of fine and specialty chemicals. In addition to high demand products, Charkit provides custom sourcing, manufacturing, technical assistance and product development services through its partners. In 2017, Charkit celebrates its 35th year of continuing growth.
Charkit Chemical Company LLC
PO Box 90
Norwalk CT 06856-0090
www.charkit.com
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 Charkit over the long term, including by actively seeking complementary acquisitions.
LeBaronBrown Industries LLC
400 Park Avenue, 21st Floor
New York, NY 10022
www.lebaronbrown.com
