Consoltex Inc. announced that its stock has been acquired by an affiliate of Sun Capital Partners, Inc. Sun Capital is a leading private investment firm specializing in leveraged buyouts of market-leading companies.
Sun Capital affiliates invest in companies that typically have the number one or two market position in their industry, long-term competitive advantages, and significant barriers to entry. Sun Capital affiliates have invested in and managed more than 110 companies worldwide since Sun Capitals inception in 1995, with combined sales in excess of $27.0 billion.
M. Steven Liff, Managing Director, Sun Capital Partners, stated, “We are enthusiastic about our affiliate's investment in Consoltex which we believe is a niche North American technical fibers business. The management team has done an excellent job in transitioning the business so that it can compete with overall textile outsourcing trends, and our plan is to grow sales and margins.”
Marcel Thibault, CEO of Consoltex Inc. added, “We believe that Sun Capital is an excellent fit for Consoltex given its considerable experience in the manufacturing sector, including the home furnishings, retail, and fiber manufacturing industries. The combination of expertise and financial resources of Sun Capital and its affiliate will be invaluable to Consoltex as we continue to implement our strategic growth model and our international initiatives. With our focus on customer service, we intend to leverage our competitive advantages to expand market share.”