HBM Holdings has sold Aerofil to kdc/one, a portfolio company of Cornell Capital
Aerofil Technology
Aerofil Technology, based in Sullivan, Missouri, is a leading aerosol and liquid provider of filling solutions for premium brands across the household, personal care and automotive end markets. Aerofil operates from a modern, high-speed 400,000 square foot facility from which it produces a comprehensive portfolio of products, including household cleaners, insect repellants, hair and skin care sprays, liquids and gels, automotive cleaners, tire inflators and lawn care products, among others. Aerofil’s services range from formulation development and raw material acquisition to complex filling, packaging and distribution.
The Deal
HBM Holdings acquired Aerofil in 2017. Under HBM’s ownership, Aerofil enhanced the management team, built a high speed and automated production system and successfully expanded the customer base with numerous blue-chip customer wins. kdc/one, a global provider of value-added solutions to many of the world’s leading beauty, personal care and home care brands, targeted Aerofil to add aerosol capabilities to kcd/one’s North American network, complementing its existing European aerosol capabilities.
Andy Fincher, Chief Executive Officer of HBM, stated, “Lincoln served as a trusted advisor to HBM and the Aerofil team throughout the entire process. Their knowledge of the packaging landscape was critical in driving options, and we are thrilled with the exceptional outcome.”
Our Perspective
Luke Webb, Managing Director in Lincoln’s Industrials Group who leads packaging, commented, “The outsourced packaging market continues to see strong investor interest, particularly from private equity (PE) and PE-backed companies. We approached global strategic and financial potential acquirers and identified kdc/one as a highly-logical acquirer given its market leadership, complementary customer base and the opportunity to expand aerosol operations to the U.S. We are very pleased with the outcome and believe there is significant future runway for the combined business.”
I was truly impressed by Lincoln’s hands-on approach throughout the entire process, sector knowledge and ability to convey our value proposition which resulted in an exceptional outcome for management and HBM. My team and I could not be more excited to partner with kdc/one to continue growing the combined business.
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