Private investment firm LeBaronBrown Industries acquires majority interest in AIC
Massachusetts-based AIC was founded 46 years ago, in the business of specialty chemical and ingredients distribution.
It partners with several India-based ingredients manufacturers. such as Sanat Products Limited and Matrix Fine Sciences, as their North America distributor. AIC’s nutritional ingredients portfolio range from botanical extracts, to carotenoids, to fibers.
"The investment puts AIC in the best position for future growth, building upon the success of our dedicated AIC team," said Mike Schrage, president of AIC, who will continue to lead the business after the acquisition. "We are excited about our future and the partnership with LeBaronBrown."
Its new parent company, LeBaronBrown, founded in 2015, focuses its investment strategy in the specialty chemical and ingredient distribution industry, which it says is $32 billion in size, growing faster than GDP, and is “highly fragmented [with] significant opportunities for organic growth and complementary acquisitions,” according to the company.
AIC joins Charkit Chemical Company LLC, acquired in June of 2017, as one of two companies in LeBaronBrown’s portfolio so far.
Simon Brown and Matt LeBaron, co-founders of LeBaronBrown, said: "We are thrilled by the addition of AIC to the LeBaronBrown platform. The company's high-quality, multi-decade performance history and reputation as a premier specialty chemical and ingredients provider made it an ideal choice. We look forward to the opportunity to provide resources and support to the existing management team to fuel continued growth."