BB&T Capital Partners acquires Innovative Container

BB&T Capital Partners, a subsidiary of Branch Banking and Trust Company, today said it has acquired Innovative Container, a Greenville, S.C.-based industrial container reconditioning and manufacturing company.

Innovative Container provides plastic drums and intermediate bulk containers used for the storage and transportation of non-hazardous chemicals, dyes, adhesives, and other products. BB&T Capital Partners acquired the company from Chad Odom, founder and majority shareholder of Innovative Container.

Innovative Container’s experienced management team and industry leading customer service have fueled the company’s rapid growth over the past several years, BB&T Capital Partners officials said. With the acquisition, Innovative Container will continue to grow organically as it expands its manufacturing capabilities and geographic reach.

“BB&T Capital Partners will provide the capital and support necessary to continue our growth,” said Blayne Henderson, co-founder and president of Innovative Container. “With our existing management team running the business, our customers will continue to experience the same high level of customer service they’ve grown accustomed to.”

“Blayne and his management team have built a leading container company with a customer-oriented approach that sets them apart from other companies in the industry,” said Martin Gilmore, partner with BB&T Capital Partners. “Innovative Container will continue to leverage its strong customer relationships and unique business model to grow its business. We look forward to working with Blayne and his team so that they can achieve their vision for the company.”

BB&T Capital Partners funded the transaction with capital from its second equity investment fund, BB&T Capital Partners II LLC. CapitalSource provided the debt financing for the transaction and participated in the equity. Odom, Henderson and the existing management team will maintain an ownership position in the business.

BB&T Capital Partners LLC manages both a private equity fund and a mezzanine fund. It makes direct equity investments in and provides subordinated debt to privately held middle market companies throughout the United States.