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
The Penray Companies, Inc.
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 Corporation
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.
Our focus and expertise across the entire aftermarket channel is a clear differentiator from other firms and enables us to identify opportunities and trends first.
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