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Behrman Capital Portfolio Company Carr Management Acquires Hillside Plastics, Inc.
New York, October 19, 2015 – Behrman Capital, a private equity investment firm based in New York and San Francisco, today announced that its portfolio company Carr Management, Inc. (“CMI” or “the Company”), a leading bottle supplier to the dairy, food and beverage industries, has acquired Hillside Plastics, Inc. (“Hillside”). Financial terms of the transaction were not disclosed.
Based in Turners Falls, Massachusetts, Hillside (www.hillsideplastics.com) produces blow-molded containers, including the proprietary Sugarhill® Pure Maple jug product line, for the food, chemical, household, automotive and industrial markets.
Grant G. Behrman, Managing Partner of Behrman Capital, said, “When we acquired CMI in 2014, we saw an opportunity to accelerate the Company’s growth through the acquisition of other high-quality blow-molding manufacturers. The addition of Hillside gives CMI a complementary product offering for growing end markets and enables both companies to access customers in new geographies. We look forward to continuing to support the company, including through investment in the newly acquired Hillside operations.”
Beth Muscato, CEO of CMI, said, “We are very pleased to welcome Hillside to the CMI family, and are excited about what we can achieve together with our shared commitment to a customer-centered, service-oriented business model. We thank Behrman for its invaluable partnership, including through this transaction process, as we execute on our growth strategy.”
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 focused in three industries: defense and aerospace, health care services, and specialty manufacturing and distribution. 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.
About Carr Management, Inc.
Carr Management, Inc. is a specialized manufacturer of blow-molded, high-density polyethylene bottles for the dairy, water, food, industrial and nutraceutical industries. Founded in 1999 and based in Nashua, New Hampshire, it 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. For more information about the company, please visit www.carrmanagement.com.
James David or Mark Semer
Kekst and Company
James-David@kekst.com / Mark-Semer@kekst.com