Crypton’s Randy Rubin talks about her industry-changing deal to acquire Nano-Tex and what’s next for this new giant.
By Mary Scoviak
Randy Rubin could never be accused of thinking small. “I want Crypton to be a household name in the U.S. in three to five years,” she says of the textile performance brand she and her husband, Craig Rubin, founded in the basement of their Michigan home in 1993. Last week’s announcement of Crypton’s acquisition of Nano-Tex puts that goal within near-term reach. Here, The Crypton Companies’ chairman talks about how she managed to pull off this seminal deal in three-and-a-half months, how she’ll leverage this new industry powerhouse and market reach and what opportunities/challenges she sees for 2014.
Q How did the road to this deal start?
Randy Rubin: We’re always thinking about ways to grow the business. Three years ago, Crypton stepped beyond its base in hospitality, office, government and health care and got into the consumer market with our textile performance solutions. Consumer sales now make up 35 percent of our business. Simply put, our business in the contract and consumer markets was strong, but we wanted it to be stronger. We did consider a launch specifically for the consumer side [As this former marketer for Fortune 500 companies says, “Who wants their kids wearing pants that say ‘Crypton’ on the back?”], but a start-up brand would have been hard. Then, last year, some companies began contacting us about possible deals. I met someone who knew someone at Nano-Tex. That company’s ownership [a group of private equity and venture capital investors, including WL Ross and Co. LLC as major stockholders] was receptive from day one.
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