Knowlton Development Corporation (kdc/one) has acquired aerosol and liquid specialist, Aerofil Technology (Aerofil), and received a significant investment from global investment firm KKR.
Headquartered in Quebec, kdc/one is a global innovation and solutions provider to many of the world’s leading brands in the beauty, personal care, and home care categories. With more than 30 manufacturing and R&D facilities globally, the company manufactures products for over 1,000 brands across an array of categories.
The acquisition of Aerofil introduces aerosol to the kdc/one’s North American network, complementing its existing European aerosol capabilities. The transaction allows kdc/one to offer customers a trans-Atlantic solution while leveraging its aerosol R&D and innovation expertise.
Headquartered in Missouri, Aerofil operates a modern, high-speed 400,000 square-foot facility from which the company provides aerosol and liquid filling solutions across the household, personal care, and automotive segments to a range of customers.
“We are pleased to welcome the Aerofil team to the kdc/one family,” said Nick Whitley, CEO of kdc/one.
“The addition of Aerofil’s modern, high-speed aerosol and liquid capabilities is immediately relevant to many of our more than 700 customers across the home care, beauty, and personal care categories.
“The culture at Aerofil aligns extremely well with that of kdc/one, as does our shared commitment to customer service. We are confident there are many exciting growth opportunities as we combine our businesses.”
Daniel Wright, president and CEO of Aerofil, commented: “kdc/one is an organisation built on trust, innovation and execution, each of which is a value that has defined our own culture and philosophy.
“kdc/one’s aerosol expertise and expansive set of customer relationships will help Aerofil reach even greater heights. We are an organisation driven by our people and dedicated to the customer experience, and we are thrilled to be joining a like-minded team. We look forward to our collective growth in the years to come.”
The strategic investment by KKR provides support for kdc/one’s continued growth and global expansion. KKR has expertise across consumer products, beauty, and manufacturing. Recent investments include Wella Company and Coty.
KKR is making its investment through its North American private equity strategy. Cornell Capital will remain kdc/one’s largest shareholder and the existing investor group, including CDPQ, will remain in place as owners of kdc/one.
Justine Cheng, chair of the board of directors for kdc/one and partner at Cornell Capital, commented: “kdc/one is one of the most unique investment opportunities in consumer products and is a truly exceptional business that seeks to disrupt the beauty and personal care space.
“We are excited to welcome KKR to our existing investment group supporting kdc/one’s continued growth and industry-leading position.
“KKR’s investment allows the business to enjoy enhanced flexibility and agility as it continues to deliver unsurpassed innovation for its partners and customers around the world.”