January 3, 2018
New York, NY, January 3, 2018 - LeBaronBrown Industries LLC ("LeBaronBrown") announced today that it has acquired a majority interest in American International Chemical, Inc. ("AIC"), a leading specialty chemical and ingredients distributor based in Framingham, Massachusetts. AIC's management team, led by its President and Founder Mike Schrage, will continue to manage the business.
Terms of the transaction were not disclosed. As part of the agreement, AIC has changed its legal status from American International Chemical Corporation to American International Chemical LLC.
LeBaronBrown is a private investment firm with a multi-decade orientation and a strategy to bring capital and resources to company management teams to enable growth over a multi-decade period. AIC joins Charkit Chemical Company LLC, acquired in June of 2017, under the same parent company.
AIC is entering its 46th year of operations and undertook this transaction to position the company for long-term, continued growth. "The investment puts AIC in the best position for future growth, building upon the success of our dedicated AIC team," commented Mike Schrage, President of AIC. "We are excited about our future and the partnership with LeBaronBrown."
Simon Brown and Matt LeBaron, co-founders of LeBaronBrown, stated "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."