October 22, 2014 – Behrman Capital, a private equity investment firm based in New York and San Francisco, today announced that it has acquired Carr Management, Inc. (“Carr” or the Company”) from Nautic Partners. Carr is a specialized manufacturer of blow-molded, high-density polyethylene bottles for the dairy, water, food, industrial and nutraceutical industries. Financial terms of the transaction were not disclosed.
Founded in 1999 by Norman and Andrew Carr and based in Nashua, New Hampshire, Carr offers a variety of large and small format containers as well as custom-design services. The Company operates six manufacturing locations throughout the country, including in Poland Spring, Maine; Reading, Pennsylvania; Newark, Delaware; Hebron, Kentucky; Fresno, California; and Corona, California.
Grant G. Behrman, Managing Partner of Behrman Capital, said, “Carr is a high-quality business with strong, long-term customer relationships and a well-earned reputation for operational excellence. We see a great opportunity to grow the business organically with new and existing customers and through select acquisitions of other blow-molding companies. We look forward to working with the Carr team to build on the Company’s success to date.”
Behrman is investing in partnership with members of Carr’s current management team, which will remain in place. Financing for the transaction was provided by GE Capital Markets, Inc. and Oaktree Capital Management. Goodwin Procter served as legal counsel for Behrman Capital. Lincoln International served as financial advisor and Edwards Wildman served as legal advisor for Carr.
About Behrman Capital
Based in New York City and San Francisco, Behrman Capital was founded in 1991 by Grant G. and Darryl G. Behrman. The firm invests in management buyouts, leveraged buildups and recapitalizations of established growth businesses. The company’s investments are primarily focused in four industries: health care, specialty manufacturing, business to business outsourcing and defense. The firm has raised five funds with a combined capital base in excess of $3.0 billion. For more information, please visit www.behrmancap.com.
James David or Mark Semer
Kekst and Company
James-David@kekst.com / Mark-Semer@kekst.com