Polyester Fibers LLC Acquired By Management Team
The management team of Conover, N.C.-based Polyester Fibers® LLC has acquired the company from parent company Empire Investment Holdings, Miami. JPMorgan Chase, New York City, and Winston-Salem, N.C.-based Salem Investment Partners provided financing for the buyout, the terms of which were not disclosed.
Polyester Fibers manufactures and distributes engineered nonwoven polyester materials for use in automotive, craft, filtration, furniture and bedding, and seasonal applications; and markets its materials in North America, Europe and Asia. The company has nine manufacturing facilities and five business divisions including Tupelo Fibers®, Cameo Fibers®, Cumulus Fibres®, Mountain Mist® and Buffalo Batt®.
“Owning a company with high quality products and long standing customer relationships gives us a platform to unleash enormous potential,” said Keith White, president and CEO, Polyester Fibers. “That potential will drive increased market share as we focus on continuous innovation and expansion of our line of quality products to better serve our customers’ needs.”
July 15, 2014