May 15, 2017,
Berkley Capital will become majority owners of the new entity to be formed from the acquisition. Company co-founders Craig and Randy Rubin, and Lance Keziah, president of The Crypton Companies, will retain minority ownership. Craig and Randy Rubin will serve as founder and vice chairman, with Randy serving as primary brand ambassador, while Craig will continue to advise on research and development and plant processing. Keziah will assume the role of CEO.
Frank Medici, president of Berkley Capital, will become chairman of the board of the new company, while Berkley Capital Managing Director Thomas Ghegan will be a director along with Keziah and Craig Rubin.
The new company will continue to be headquartered in Bloomfield Hills, Mich., maintain its plant in Kings Mountain, N.C., and continue its operations in Hong Kong.
“By partnering with Berkley Capital, we will be able to accelerate our goal of making our brands household names,” said Randy Rubin.
“Berkley brings with them a deep knowledge and vision of where our company could go into its next stage of growth, so it was an ideal scenario to partner with them to move our company forward along the existing business lines now and for future ones under development,” said Craig Rubin.
“This is a very exciting time for our company and employees. Berkley is a great partner that fits well with our culture and growth initiatives. I look forward to leading the company and closely working with the Berkley team to accelerate our growth strategy and continue to bring value to our customers,” said Keziah.
“We chose to partner with Crypton and Nanotex because of their global reputation for performance and strong brand recognition,” said Medici. “By working with their established and proven management team, Berkley will be able to build upon the strong foundation that the Crypton team have built and helped bring the organization to its next evolution in producing performance products for the home, contract, apparel and other businesses.”
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