Huron Capital has partnered with industry executive David Brunori to form Brudner Polymer Corporation, a new platform company that will acquire companies in the adhesives and sealants industry.
“We are excited to partner with David Brunori, an experienced operator,” said Mike Beauregard, Senior Partner at Huron Capital. “This is Huron Capital’s fifteenth ExecFactor platform and the fourth in the specialty chemicals space after Quest Specialty Chemicals, Optimum Plastics and Valentus Specialty Chemicals. We think our executive-led buy-and-build investment model is well suited for this industry.”
Brudner Polymer will seek to acquire companies that have annual revenues of least $20 million with a recurring revenue base, and will be operating in fragmented end markets including construction, infrastructure, transportation, and OEM/assembly. The Brudner name is a combination of “Brunori” and “Gardner”, a tribute to Mr. Brunori’s former mentor Kent Gardner, the President and Founder of Matrix System Automotive Finishes, who passed away in February 2009. Mr. Brunori worked alongside Mr. Gardner for more than 15 years.
Mr. Brunori has more than 30 years of experience in the specialty chemical industry. Most recently he was the Business Director (Americas) for Valspar Automotive, a maker of paints and coatings used in the automotive aftermarket, agricultural and light industrial equipment industries. Valspar was acquired by Sherwin-Williams in June 2017. From March 2013 to June 2015 he was the President of Quest Automotive Products, a division of Quest Specialty Chemicals (a current Huron portfolio company) and a provider of paints and coatings to the automotive refinish market. Quest Automotive Products was sold by Quest Specialty Chemicals to Valspar in June 2015. Earlier in his career, and for more than 19 years, Mr. Brunori held various position at Matrix System Automotive Finishes (acquired by Quest Specialty Chemicals in August 2006) and as a formulating chemist at Lilly Industries and PPG Industries.
“It is great to be partnered again with Huron Capital,” said Mr. Brunori. “I’ve known the Huron Capital team for over 10 years, having run the largest division of Quest Specialty Chemicals, and I have seen first-hand the support they provide to their ExecFactor CEOs. I am excited to lead this new initiative as we strive to build a significant platform in the adhesives and sealants sector.”
Huron Capital invests up to $70 million per transaction in middle market companies that have revenues up to $200 million and EBITDAs of $5 million or more. Sectors of interest include specialty manufacturing, business services, consumer goods & services, and healthcare. Huron was founded in 1999 and has offices in Detroit and Toronto (www.huroncapital.com).
© 2017 Private Equity Professional | September 21, 2017
