Berkley Capital LLC, Miami, has purchased a majority stake in Bloomfield Hills, Mich.-based The Crypton Companies, comprised of Crypton LLC and Nanotex LLC. Crypton reports the move enhances its growth strategy and allows for expansion into additional business lines and applications for its technology. A new entity will be formed with Berkley Capital the majority owner, while Crypton cofounders Craig and Randy Rubin, and President Lance Keziah will own a minority share.
Keziah will take on the role of CEO of the new company managing all aspects of the business. Craig and Randy Rubin will both assume the titles founder and vice chairman. Craig will advise the company in research and development as well as plant processing; Randy will be the company’s primary brand ambassador. Berkley Capital’s President Frank Medici will be the chairman of the board, and Managing Director Thomas Ghegan will become a director of the new entity.
The company will maintain its headquarters location in Bloomfield Hills, Mich., its research and manufacturing facility in Kings Mountain, N.C., as well as its operations in Hong Kong.
“Berkley brings with them a deep knowledge and vision of where our company could go in its next stage of growth, so it was an ideal scenario to partner with them to move our company forward along the existing business lines now and for future ones under development,” says Craig Rubin.
“We chose to partner with Crypton and Nanotex because of their global reputation for performance and strong brand recognition,” said Berkley Capital President Frank Medici.
“By working with their established and proven management team, Berkley will be able to build upon the strong foundation that the Crypton team have built and help bring the organization to its next evolution in producing performance products for the home, contract, apparel and other businesses.”