The Crypton Companies acquired by investment group
April 4, 2017,
Bloomfield Hills, Mich – The Crypton Companies have a new majority owner.
The provider of Crypton and Nanotex performance fabrics to the contract, home furnishings and apparel markets has sold a majority stake to Berkley Capital LLC. Berkley is a private equity investment vehicle of W. R. Berkley Corporation, a Fortune 500 property and casualty insurance company.
The Crypton Companies co-founders Craig and Randy Rubin, and Lance Keziah, president, will retain minority ownership. Craig and Randy Rubin will carry the titles of founder and vice chairman of the new company, with Randy serving as primary brand ambassador. Craig will continue to advise the company on research & development and plant processing.
Keziah will assume the role of ceo and will manage all aspects of the business. Berkley Capital president Frank Medici will become chairman of the board of the new entity, while Berkley Capital managing director Thomas Ghegan will be a director along with Lance Keziah and Craig Rubin.
The new company will continue to be headquartered in Bloomfield Hills, Mich. It will maintain operations from its state-of-the art research and manufacturing plant in Kings Mountain, NC, and continue with 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.
The Crypton Companies have patented and branded environmentally responsible textile performance solutions since 1993. Crypton fabric is used in the healthcare, hospitality, government, education and contract segments. Crypton Home provides fabrics for the home furnishings industry. In 2013, Crypton acquired Nanotex, which was among the first to market nanotechnology solutions for textiles.
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