10.27.14
Danish nonwovens producer Fibertex Nonwovens has established a U.S. presence through the acquisition of Non Woven Solutions (NWS), a Chicago, IL-based manufacturer of needlepunch nonwovens with 2013 sales of nearly $17 million. The deal was valued at $25 million.
According to Fibertex executives, the acquisition was a logical next step for the strategic development of the company, which, in recent years, has expanded through acquisition in France and the Czech Republic and the creation of a greenfield site in South Africa.
“In recent years, Fibertex Nonwovens has increasingly focused on special-purpose products for the composites, automotive and other industries. NWS is a perfect match for this strategy,” explains Jørgen Bech Madsen, CEO, Fibertex Nonwovens.
Within the automotives market, many of Fibertex’s customers, which comprise major international subcontractors, have been encouraging it to establish a North American presence. NWS meets this demand and also gives Fibertex access to several key market areas.
NWS was founded in 2007 and has generated double-digit growth rates in recent years. The company operates two production lines, manufacturing materials for the composites and automotive industries as well as nonwoven products for wound care, filtration, bedding and construction.
The current NWS management team will remain in tact.
According to Fibertex executives, the acquisition was a logical next step for the strategic development of the company, which, in recent years, has expanded through acquisition in France and the Czech Republic and the creation of a greenfield site in South Africa.
“In recent years, Fibertex Nonwovens has increasingly focused on special-purpose products for the composites, automotive and other industries. NWS is a perfect match for this strategy,” explains Jørgen Bech Madsen, CEO, Fibertex Nonwovens.
Within the automotives market, many of Fibertex’s customers, which comprise major international subcontractors, have been encouraging it to establish a North American presence. NWS meets this demand and also gives Fibertex access to several key market areas.
NWS was founded in 2007 and has generated double-digit growth rates in recent years. The company operates two production lines, manufacturing materials for the composites and automotive industries as well as nonwoven products for wound care, filtration, bedding and construction.
The current NWS management team will remain in tact.