A majority stake of the Crypton Companies, a leading provider of performance fabrics in the contract, home furnishings and apparel markets, has been acquired by Berkley Capital LLC, the private equity investment subsidiary of W. R. Berkley Corporation, a Fortune 500 property and casualty insurance company with an investment portfolio in excess of US $ 15.0 billion.
“We chose to partner with Crypton and Nanotex because of their global reputation for performance and strong brand recognition,” says Berkley Capital President Frank Medici, adding, “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 help bring the organization to its next evolution in producing performance products for the home, contract, apparel and other businesses.”
After acquisition, Berkley Capital will become majority owners of the new entity to be formed. Company Co-Founders Craig and Randy Rubin, and Lance Keziah, President of Crypton Companies, will retain minority ownership.
Frank Medici, President of Berkley Capital will become the Chairman of Board of the new company, while Berkley Capital Managing Director Thomas Ghegan will be among Directors along with Lance Keziah and Craig Rubin.
The move significantly enhances the growth strategy of Crypton and Nanotex and enables the company to bring greater value to its clients as it looks to dramatically expand sales. This investment will allow for more expansion in new business lines and applications for both the Crypton and Nanotex businesses.
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“By partnering with Berkley Capital, we will be able to accelerate our goal of making our brands household names,” says Randy Rubin, adding, “We see this as an amazing opportunity for our company and will enable us to reach our full potential. I look forward to continuing my role as a Brand Ambassador to maximize our growth.”
