NEW YORK, Jan. 8, 2013 /PRNewswire/ -- Behrman Capital, a private equity investment firm based in New York and San Francisco, today announced that its portfolio company ILC Dover LP has acquired Grayling Industries, a leading producer of advanced industrial packaging products and environmental safety products. Financial terms of the transaction were not disclosed.
ILC Dover is a designer and manufacturer of space suits for NASA and a wide range of highly engineered fabric and film products for the government and industrial sectors. The addition of Grayling's extensive line of advanced packaging solutions will strengthen ILC's market-leading position in the global pharmaceutical powder containment market. As the maker of Guardian™ protective packaging for food, chemical, and pharmaceutical dry powder and liquid applications, Grayling works with its industrial clients to deliver custom fit liners and other solutions to enhance transportation and processing efficiency. It also manufactures the leading brands for the asbestos abatement and remediation industry worldwide, including Avail™ glove bags, D-Con™ decontamination enclosures, and Control™ chemicals.
Grant G. Behrman, Managing Partner of Behrman Capital, said, "We are very pleased to support this strategic acquisition for ILC Dover. Grayling is a leading provider of flexible containment solutions for the liquid and powder containment market for a variety of manufacturing applications, and we intend to pursue a range of opportunities to aggressively grow this part of ILC Dover's business."
"During the acquisition and due diligence process it was very rewarding and encouraging to see how aligned Grayling and ILC Dover are in focusing on the present and emerging needs of their customers. Grayling has a history of exceeding the expectations of its customers, and this is entirely in line with how ILC operates," said William Wallach, CEO of ILC Dover.
Grayling Industries will operate as a wholly owned subsidiary of ILC Dover.
About Behrman Capital
Based in New York City and San Francisco, Behrman Capital was founded in 1991 by Grant G. and Darryl G. Behrman. The firm invests in management buyouts, leveraged buildups and recapitalizations of established growth businesses. The company's investments are primarily focused in five industries: health care, specialty manufacturing, business to business outsourcing, defense and information technology. The firm has raised five funds with a combined capital base in excess of $3.0 billion. For more information, please visit www.behrmancap.com.
About ILC Dover
Since 1947, ILC Dover has provided engineered solutions to complex customer problems, serving the aerospace, personal protection and pharmaceutical industries. Known for production of space suits for NASA, ILC is a world leader in the use of high-performance flexible materials, allowing for unique solutions to meet customer needs. ILC's innovative products have been used on the moon, on Mars and around the globe.
ILC Dover…creating what's next
Grayling Industries is a manufacturer of specialized products for industrial applications. Markets served are industrial packaging and environmental safety. Primary products are intermediate bulk containers and liners and products for contamination control on asbestos abatement projects. Brands include: Guardian™ IBC container liners for liquid and dry applications, PaperIBC™ containers and Avail™ glovebags, Control™ chemicals, D-Con™ disposable showers and Durapax™ disposal Bags for asbestos abatement.
James David or Mark Semer
Kekst and Company
SOURCE Behrman Capital