Polyester Fibers has completed a management-led buyout from its parent company, Empire Investment Holdings. The buyout was funded by Polyester Fibers' management team and financing was provided by JPMorgan Chase and Salem Investment Partners.
The Conover, NC-based company manufactures and distributes precision-engineered nonwoven polyester materials for the filtration, furniture and bedding, automotive, craft, and seasonal markets in North America, Europe and Asia.
"Owning a company with high quality products and long standing customer relationships gives us a platform to unleash enormous potential," says Keith White, president and CEO of Polyester Fibers.
Terms of the management buyout were not disclosed.
Polyester Fibers operates nine manufacturing and distribution facilities across five operating units: Tupelo Fibers, Cameo Fibers, Cumulus Fibres, Mountain Mist and Buffalo Batt.