When Aerofil Technology sought a financial partner, its leadership chose not to enter into an auction process. The company discovered that HBM shared its enthusiasm for lean manufacturing excellence — and also recognized that HBM’s long-term approach to capital would provide the best fit for Aerofil’s long-term strategic goals.
COMPANY BACKGROUND AND CULTURE
Founded in 1988 and headquartered in Sullivan, Missouri, Aerofil Technology is a contract manufacturer that fills aerosol and liquid containers for industry-leading brands across a wide set of applications and industries, such as automotive, personal care, household and insecticide segments. Its culture is grounded in a commitment to deliver value to customers — and that includes a strong focus on continuous improvement with Lean Manufacturing, a methodology with the end goal of eliminating waste. The company adopted Lean Manufacturing processes in 2007 to prevent rapid growth from creating service and quality issues. By embracing world-class manufacturing practices, Aerofil allows its customers to benefit from reduced inventory, shortened lead times and substantial cost savings. That’s appreciated by companies like 3M, which awarded Aerofil as “Supplier of the Year” in 2016.
Through mutual business connections, HBM’s relationship with Aerofil developed over a long period of time — and Aerofil’s leadership specifically chose not to enter into an auction process. Recognizing that HBM’s core strategy involves adding companies to its portfolio indefinitely, the leadership team was drawn to HBM’s long-term approach to capital. From the start, Aerofil noticed that HBM had a strong desire to understand its business and how it provides superior service. The company also discovered that HBM shared its enthusiasm for lean manufacturing excellence.
INTEGRATION AND STRATEGIC PLANNING
Since the acquisition, HBM and Aerofil have collaborated to appoint a new CEO. HBM has also assisted Aerofil with the implementation of a template for a high-performance culture. which aligns well with Aerofil’s Lean philosophy. This has led to the identification of opportunities in the marketplace as well as operational inefficiencies that need attention. HBM continues to share its expertise and assist Aerofil with strategic initiatives by improving processes, providing capital investment analysis and evaluating potential bolton acquisition targets. Reinforcing its long-held belief in improving opportunities for its workers, Aerofil is also working closely with Amy Fields, VP and Chief Human Resources Officer for HBM, on talent development initiatives.
To take the company to its next stage of innovation and growth, HBM has planned sizable capital investments to expand Aerofil, both organically and through acquisitions. As with HBM’s other portfolio companies, Aerofil will benefit from HBM’s enterprisewide solutions such as strategic planning, technology deployment and overall support.
“From our earliest conversations, HBM sought to understand our business, the value we bring to customers, and our emphasis on creating a positive work environment for our employees. We are thrilled to have found a partner-and neighbor in the St. Louis area-that shares our focus on lean manufacturing excellence and will support our next chapter of growth.”
Bob Dunaway, Chairman and CEO
Aerofil Technology, Inc.
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