BB&T Capital Markets Serves As Exclusive Financial Advisor to The Penray Companies in Its Sale to PLZ Aeroscience
On June 1, 2017, The Penray Companies, Inc. (“Penray” or the “Company”), a portfolio company of Source Capital, was acquired by PLZ Aeroscience Corporation (“PLZ”), a company majority owned by Pritzker Group Private Capital. BB&T Capital Markets served as exclusive financial advisor to Penray.
About the Companies
Penray is a leading manufacturer and marketer of aerosol, liquid, and other chemical products for vehicles in the automotive, heavy duty, marine, industrial, agricultural, and powersports end markets. The Company sells Penray® and Super-X® branded chemical additives and treatments, as well as private-label products, to customers across the globe. Penray was founded in 1950 and is headquartered in Wheeling, Illinois.
PLZ Aeroscience is the North American leader in specialty aerosol product manufacturing. The PLZ family of companies specializes in the development, manufacturing, packaging, and distribution of a comprehensive line of contract fill, branded, and private-label products. The company formulates, blends, fills, and packages more than 2,500 branded and private-label products including industrial solvents, lubricants and degreasers, adhesives, sanitary supply disinfectants, insecticides, cleaners, polishes, air fresheners, and personal care products. Since 1947, PLZ has filled billions of aerosol cans for thousands of customers. PLZ Aeroscience is a member of Pritzker Group, which owns and operates market-leading companies in the manufactured products, services, and healthcare sectors.
BB&T Capital Markets is the leading investment bank to the automotive aftermarket. We provide unparalleled industry expertise and transaction execution throughout the entire aftermarket channel - from suppliers and distributors to retailers and professional installers - in every segment of the $300 billion industry.
About BB&T Capital Markets
BB&T Capital Markets offers an integrated platform of equity and debt underwriting, M&A advisory, corporate banking, and sales and trading. Headquartered in Richmond, VA, with offices throughout the US, we have specific expertise within 10 distinct industry verticals including Automotive Aftermarket; Commercial & Industrial; Education; Energy; Financial Services; Food & Agribusiness; Healthcare; Logistics & Transportation Services; Real Estate; and Retail & Consumer. Our commitment to industry expertise, combined with our resources as one of the nation's strongest financial institutions, strategically positions BB&T Capital Markets to build lasting relationships and contribute measurably to the long-term success of our clients.