Polyester Fibers LLC, North American the largest and most flexible manufacturer and distributor of value-added, high-loft nonwoven materials has been sold in a management-led buyout from its parent company Empire Investment Holdings.
Salem Investment Partners and JPMorgan Chase provided funding and advice for the purchase from Empire Investment Holdings.
Keith White, president and CEO of Polyester Fibers said that owning a company with high quality products and long standing customer relationships gives them a platform to unleash enormous potential. This potential will drive increased market share as they focus on continuous innovation and expansion of their line of quality products to better serve customers’ needs.
Polyester Fibers has 10 plants that operate under different names, including Cumulus Fibers at 1101 Tarheal Road in Charlotte and Mountain Mist at the headquarters site at 1820 Evan St. NE in Conover.
The company’s Cumulus Fibres division has manufactured polyester media for the air filtration industry for more than 35 years, serving industrial, commercial and residential markets.
Polyester Fibers is a great example of the kind of company they look for as investors, bringing a cohesive, experienced management team, strong client relationships and a solid track record of performance year-after-year, said David Faris, partner, Salem Investment Partners.
Their industry experience puts them in a unique position to expand customer base and accelerate growth in key focus areas.
Polyester Fibers manufactures and distributes precision-engineered, nonwoven polyester materials products for filtration, furniture, bedding and automotive uses, craft and seasonal market in North America, Europe and Asia. Other products include Buffalo Grass, a colorful synthetic stuffing often used in Easter baskets.
A weekly report covering market and price information on the entire chain of polyester along with online access to daily polyester chain prices.
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