Financial terms of the deal between Cosmetic Specialties in Oxnard and Airlite in Omaha, Neb. were not disclosed.
The acquisition of Cosmetic Specialties, or CSI, a manufacturer of containers for the beauty and skincare industries, will allow Airlite to expand its U.S. footprint and enter the cosmetics industry through a well-established industry player, the company said in a release.
Airlite hired Bridgepoint Investment Banking in Omaha as its buy-side advisor targeting companies with proprietary product lines, a strong management team, a similar culture and a strong commitment to shared values, Airlite said in its release.
Airlite Chief Executive Brad Crosby that the company is excited for the future with CSI.
“We gave the Bridgepoint team a narrow list of criteria and they delivered,” Crosby said in a statement. “Throughout the entire process, they provided a thoughtful external perspective, deep market knowledge and advisory excellence.”
Bridgepoint Managing Director Mike Anderson said that his firm has been impressed with the level of professionalism and integrity from both companies during the M&A process.
“We’re committed to helping leading family- and founder-owned companies such as Airlite achieve their strategic goals,” Anderson said in a statement. “This acquisition is a good example of accomplishing that mission.”
CSI was founded in 1978 and grew into a leading manufacturer of plastic injection-molded jars, caps, liners and closures made from traditional plastics and recycled resins, the company said on its website.