Specialty Chemical & Ingredients Distribution
LBB owns LBB Specialties LLC, one of the leading companies in the specialty chemical and ingredients distribution industry. The specialty chemical and ingredients distribution industry is an excellent fit for LBB. As a North American industry sector which exceeds $32 billion in size, grows faster than GDP and is highly fragmented, significant opportunities for organic growth and complementary acquisitions exist. LBB Specialties is the holding company for its operating subsidiaries, Charkit Chemical Company and American International Chemical.
On July 31, 2017, LBB acquired a majority interest in Charkit Chemical Company LLC ("Charkit"). Charkit is a leading specialty chemical and ingredients distribution company headquartered in Norwalk, CT and has been operating for over 35 years. See News for the related press release.
On January 3, 2018, LBB acquired a majority interest in American International Chemical LLC ("AIC"). AIC is a leading specialty chemical and ingredients distribution company headquartered in Framingham, MA and has been operating for almost 50 years. See News for the related press release.
LBB is launching a new platform strategy in the industrial technology industry. The industrial technology industry is a large, growing, highly profitable and fragmented space ideally suited for LBB's build-up strategy. LBB is focused on specific sub-sectors within industrial technology which include the analytical instrumentation, test & measurement, electronic components, flow control and process control sectors. LBB has partnered with Timothy Winfrey, a proven, best-in-class operating executive who will serve as Executive Chairman of the new platform.