Airtech Advanced Materials has acquired Cosmotec, a U.K.-based producer of needlepunch and air-bonded nonwoven textiles in a deal that is expected to create a "strong international player in nonwoven manufacturing."
The transaction was supported by Headpoint Advisors, which advised Cha Technologies, a Switzerland-headquartered global conglomerate with diversified interests across property, technology, textiles, financial services and healthcare. Cosmotec operates from an eight-acre facility in Blackburn.
Airtech Advanced Materials Group, a global manufacturer headquartered in Huntington Beach, CA, has operations across the US, Europe, and Asia. The group serves a range of industries, including aerospace, composites, automotive, and defence.
Jacques Boubal, group chief executive of Cha Technologies Group, said: "Headpoint assisted us in this process with great professionalism and delivered a successful sale of Cosmotec to an ideal international strategic buyer in Airtech.
