Performance Fibers, an affiliate of Sun Capital Partners, has acquired the North American business of Diolen Industrial Fibers, Inc.
The acquisition is a key element of Performance Fibers' global growth strategy and will serve to increase the company's capacity and distribution of industrial fibers in North America as well as add fabric capability to the North American portfolio.
“The uniting of these two businesses will offer an expansion of high quality products and technology to our customers,” said Greg Rogowski, President and Chief Executive Officer of Performance Fibers.
“We are committed to growing our business for the continued success of our customers,” Rogowski said. “Our technology leadership and investments will allow for continuous improvement of our products, ease the development of new products and applications, and support continuous R&D investment in this growing marketplace.”
The North American business of Diolen Industrial Fibers, Inc. is headquartered in Scottsboro, Ala. where the company has produced high-tenacity polyester yarns since the early 1970s. It also maintains a fabric converting facility in Winfield, Ala.
“Performance Fibers is a leader in the global marketplace and has demonstrated its commitment to investment in North America with this acquisition,” said Lowell Bivens, former President and General Manager of Diolen Industrial Fibers, Inc.
“The combination of Performance Fibers' business experience and Diolen's technological capabilities will create a strategic alliance to help customers meet challenges and solve problems,” Rogoswki said. “With a global presence, technological strength and mastery in the fibers and fabric business, the company has positioned itself for tremendous growth in the future.”
“We are anxious to leverage the talented management team at Performance Fibers,” said Matthew Garff, Vice President at Sun Capital Partners, Inc. “The management team has worked hard to grow the business by meeting the needs of their customers and working well with their vendors. We expect that this same level of diligence will be applied to customers and vendors of Diolen, allowing the combined business to grow and prosper.”
