NEW YORK, Oct. 31, 2019 /PRNewswire/ -- Arsenal Capital Partners ("Arsenal"), a leading private equity firm investing in specialty industrials and healthcare companies, announced today that it has completed the acquisition of Clariant's healthcare packaging business. The company will be rebranded as Airnov Healthcare Packaging ("Airnov").
Concurrent with the completion of the transaction, Matthias Brommer will become President and Managing Director of Airnov. For the previous eight years he has served with Clariant and since 2015, has headed the business under Clariant's ownership.
Airnov is a global leader in products used to protect pharmaceutical, nutraceutical and diagnostic products from moisture and oxygen. This includes customizable, high-quality drop-in products such as canisters and packets, integrated desiccant systems, and specially designed plastic bottles containing oxygen barrier materials. The business has manufacturing facilities in France, the U.S., China, and India and employs around 600 people.
George Abd, an Operating Partner of Arsenal, said, "Airnov is a strong, well-positioned business and its products are recognized around the world for their performance and technological leadership. The company serves a number of growing industry sectors, including healthcare, diagnostics, and nutraceuticals. We look forward to working with Matthias and his leadership team to move the business forward."
Mr. Brommer stated, "We are very excited to emerge as an independent company with a new name, a strong leadership team, and committed investors who will provide the support and resources required as we continue to enhance the products and services our customers require. We look forward to our partnership with the Arsenal team who have strong domain and technical skills in the healthcare, specialty materials, and packaging sectors to help us create a true global leader."
Joe Rooney, an Investment Partner of Arsenal, commented, "Airnov has been a very successful corporate subsidiary where there is great potential as a stand-alone business. We see a significant growth opportunity here and will bring investment in organic initiatives and a sustained focus on complementary acquisitions." Tim Zappala, a Senior Partner of Arsenal added, "Clariant was an excellent owner in continuing to elevate the business's strategic importance to its markets. We hope to continue the same leadership as owners of Airnov, leveraging both our capabilities and leading franchises in advanced materials and healthcare."
About Arsenal Capital Partners
Arsenal is a leading private equity firm that specializes in investments in middle-market specialty industrials and healthcare companies. Since its inception in 2000, Arsenal has raised institutional equity investment funds of $5.3 billion, completed over 45 platform investments and achieved over 30 realizations. Arsenal invests in industry sectors in which the firm has significant prior knowledge and experience. The firm works with management teams to build strategically important companies with leading market positions, high growth, and high value-add. For more information, visit www.arsenalcapital.com.
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SOURCE Arsenal Capital Partners