A Breath of Fresh Air: Branford Castle Invests in the Air Filtration Sector

First investment for Branford Castle Fund II

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Aug 17, 2020, 08:00 ET

NEW YORK, Aug. 17, 2020 /PRNewswire/ -- Branford Castle Partners, LP, a New York City-based private equity firm, today announced that its affiliate has purchased Fibrix Filtration, a leading provider of specialized high loft and pleat media air filtration products. The Company sells its products to many of the large, brand name filter manufacturers throughout the United States. Branford is teaming up with existing management including CEO Keith White, who is one of the current owners and who will be investing in the transaction as well. This investment represents the first transaction for Branford Castle Fund II, which had a first close in late 2019.

"Branford's Fund II is off to a fast start, despite the challenging environment, and we are delighted that Fibrix Filtration is the first investment for our second fund. With air filtration an area of increasing concern throughout the world, we look forward to working with Fibrix management to grow the business and develop new products," said Senior Managing Director Laurence Lederer.

Based in Charlotte, NC, Fibrix Filtration has been manufacturing air filtration media products for over 50 years. With four facilities located in North Carolina and Texas, the Company's products are pivotal in optimizing the performance of commercial and industrial HVAC systems, leading to enhanced system efficiency, lower energy costs and improved air quality. Fibrix's air filtration media products are designed to meet specific technical standards related to particle capture, pressure drop and dust collection.

"We are excited about the Fibrix opportunity and believe the company is well-positioned to grow through a number of organic initiatives under the direction of its excellent management team," said Branford Senior Associate, Ceon Francis. "We are especially pleased to work on this investment with Byline Sponsor Finance, a division of Byline Bank, which is providing senior debt financing, and Brookside Mezzanine Partners, which is providing mezzanine debt financing."

Keith White, CEO, further said, "The team and I are very proud of all that we've accomplished over the last few years at Fibrix. We look forward to working closely with our partners at Branford Castle in the next stage of growth of our business."

Branford Castle was advised by its legal counsel, Akerman LLP. Fibrix was advised by Alantra LLC and Adams & Reese provided legal counsel to the sellers. Terms of the transaction were not disclosed.

About Branford Castle Partners (http://www.branfordcastle.com/)
Branford Castle is a private market investor focusing on lower-middle-market investments, with a more than 30+ year history of helping to grow businesses. The firm typically makes control investments in companies with less than $15 million of EBITDA and a leadership position in a niche industry. Branford is particularly keen on the strong relationships it develops with its portfolio company managers. Branford has particular expertise in industrials/specialty manufacturing, consumer products, business services and logistics.

SOURCE Branford Castle Partners