Charlotte-based nonwovens manufacturer Polymer Group Inc. (PGI) has announced it will sell its
wholly owned subsidiary, FabPro Oriented Polymers LLC, to an affiliate of Tricor Pacific Capital
Inc., a private equity firm with offices in Chicago and Vancouver, British Columbia, as part of
PGI’s strategy to focus on its core nonowovens business in the hygiene, medical, wipes and
industrial markets.
Kingman, Kan.-based FabPro was established in 1975 as a greenfield operation for Exxon
Chemical Co. and was acquired by PGI in 1998. FabPro manufactures high-performance polymers and
man-made fibers for agricultural, construction, and commercial applications. The sale will include
its manufacturing plants in Kingman and Clearfield, Utah; and a converting facility in Guntown,
Miss.
“We are proud to add a high-quality asset like FabPro to our portfolio,” said Brad Seaman,
Tricor Pacific Capital. “FabPro has top leadership positions in the agriculture and construction
segments in North America and recognized brand names. We are eager to assist the management team in
executing their growth plans and see strong growth potential as synthetic fibers increasingly
replace steel and wire in many applications.”
The transaction is expected to be completed before the end of September.
August 25, 2009
