Thursday 23 December 2021

US-based middle-market private equity firm Aurora Capital Partners has acquired specialized spray drying and ingredient processing solutions provider Spray-Tek, LLC, the firm said.

Terms of the transaction were not disclosed.

Founded in 1980, Spray-Tek is the largest independent provider of specialty spray drying and ingredient processing solutions, principally serving the food and beverage, personal and home care, and pharmaceutical and nutraceutical end markets.

Spray-Tek operates facilities in New Jersey and Pennsylvania and is on track to open a new state-of-the-art facility in Beloit, Wisconsin in early 2022.

This transaction marks the sixth investment from Aurora Equity Partners VI, which was activated in September 2020.

It follows several recent Aurora investments within the broader Industrial Technologies sector, including Cold Chain Technologies, Inhance Technologies, and Pace Analytical Services.

KeyBanc Capital Markets acted as exclusive financial advisor and McDermott Will and Emery LLP served as legal advisor to Spray-Tek on the transaction.

Piper Sandler and Co. served as financial advisor and Gibson, Dunn and Crutcher LLP served as legal advisor to Aurora. Neuberger Berman Private Debt client funds provided debt financing for the transaction.