Meriturn Partners has sold Sustainable Solutions, Inc. (SSI) based in Wagoner, OK to Strateline Industries, a maker of nonwovens from scrap materials based in Rodgers, AR. Meriturn invested in the company in November of 2006 as part of a management buyout and reorganization of the company. Strateline was a strategic partner of SSI's and desired to vertically integrate by adding the capability to regenerate fibers from textile waste and to expand its sustainable offerings beyond nonwoven products.
Meriturn's Partner and Chairman of SSI, Lee Hansen said, "The transaction provides considerable synergies for both Strateline and SSI and the board felt all parties would benefit from the immediate combination but also from the future prospects. As such, we structured the transaction so the parties could take part in the combined upside."