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Foss Manufacturing Renamed

May 23, 2006

Hampton, NH-based Foss Manufacturing is now known as Felt Manufacturing following its sale last month to Foss Manufacturing LLC, a Nevada limited liability company at a price tag of $39 million. According to court documents, the sale provides for the name change and continuation of the company, which manufactures nonwoven fabrics and synthetic fibers, and the continued employment of 355 workers. It also clears up prior debts and liens.

Created in March, Foss Manufacturing LLC is a limited liability company owned by Foss Holdings, LLC, which is owned by the Alinian Capital Group LLC, a Delaware limited liability company. Alinian is owned by A.J. Nassar, Frank Cougentakis, James Morrell and James Magruder.

According to court documents, Alinian has no connection with the previous owners or the trustee. CapitalSource is providing Foss Manufacturing LLC with financing for the purchase of the company, which will continue to operate in Hampton.

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