Charkit Chemical Company recently announced a large investment made by LeBaronBrown Industries to become a new, long-term majority shareholder in the chemical company.
Charkit is currently celebrating its 35th anniversary of operations and hopes this transaction will grow the company with entry into new markets, future agreements with distribution partners and acquisitions of other chemical distributors.
"We're excited about the vision for Charkit's future and thrilled to be partners with LeBaronBrown," said Charles Hinnant, founder and president of Charkit. "The investment in our company recognizes the hard work our management team has put into successfully building Charkit over the last 35 years and also recognizes the tremendous opportunities for growth that lie ahead for us.”
Founders of LeBaronBrown, Simon Brown and Matthew LeBaron said, “Charlie [Hinnant] and the team at Charkit have built a superb company over time. We are delighted at the opportunity to partner with Charkit and provide resources to support the ongoing growth of the company. Building on the company’s operating excellence; we will be actively seeking complementary acquisitions in the specialty chemical distribution industry.”
Terms of the deal have not been disclosed, though part of the agreement states that Charkit must change its legal status from Charkit Chemical Corporation to Charkit Chemical Company LLC.
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