The management team of Vita Nonwovens has completed a management buyout of its business from Vitafoam, Inc., a division of UK parent company The Vita Group, Ltd. Through the advice of Cary Street Partners, LLC, the management team partnered with Charlotte-based private equity firms Capital South Partners and Crutchfield Capital combined with Source Capital Mezzanine Fund and PNC bank to complete the transaction August 31, 2012. Vita Nonwovens is a producer of high quality nonwoven fiber materials for use in bedding, furniture, hygiene, automotive, filtration, and building products.
“This deal represents a great opportunity for us. We have confidence in our team and our capital partners, and we feel we are well-positioned for future growth,” says Jason Johnson, the company’s executive vice president of operations.
CapitalSouth Partners provides private equity and mezzanine capital to lower middle-market companies. Since its inception, CapitalSouth has closed over 80 transactions, representing over $2 billion in total transaction financings. With over $700 million under management through multiple committed funds, CapitalSouth actively seeks to invest in lower middle-market companies located primarily in the South, but also throughout the US.
Founded in 1999, Crutchfield Capital is a closely held private investment and operating firm headquartered in Charlotte, NC. The firm operates and invests in small to mid-size companies in the southeastern U.S.