CapitalSouth & Crutchfield Capital have sold Vita Nonwovens to Industrial Opportunity Partners
October 2014 — CapitalSouth Growth Fund and Crutchfield Capital, LLC have sold Vita Nonwovens, LLC to Industrial Opportunity Partners (IOP).
Based in High Point, North Carolina, Vita is a leading manufacturer of high-performance, durable nonwoven materials, including flame retardants, thermal/acoustical insulation, filtration and medical products. The company operates three facilities strategically located throughout the USA, and specializes in engineered applications utilizing nonwoven thermal bonding and needle punch capabilities, as well as die cutting and laminating operations.
Industrial Opportunity Partners, an Evanston, Illinois-based private equity firm with US$460 million of committed capital since inception, is dedicated to creating value through investing in manufacturing and value-added distribution businesses with sales between US$30–350 million. IOP focuses on businesses with strong product, customer and market positions, and provides management and operational resources to support sales and earnings growth at its businesses.
CapitalSouth Growth Fund, headquartered in Charlotte, North Carolina, is a junior capital provider to lower middle-market companies located throughout the United States. CapitalSouth’s investments are typically made to support sponsor or management-led buy-outs, recapitalizations, growth financings and change of control transactions. The firm has invested in multiple sectors, including business services, general industrial, consumer products, restaurant and food, healthcare, information technology and energy services. CapitalSouth typically invests between US$2–10 million in each transaction. Crutchfield Capital is a closely held private investment firm that invests in small to mid-sized companies in the Southeastern United States. The firm seeks to establish partnerships with strong management teams and others interested in building successful companies and rewarding careers for team members. The Crutchfield team has financial and operating experience in turn-around, mature and high-growth situations. Crutchfield typically invests in companies with EBITDA between US$1–8 million and invests in both, control and non-control positions.
Our role in the transaction
Oaklins' team in Germany provided strategic support throughout the transaction.
Talk to the deal team
Related deals
Contrinex has joined Nordson
Contrinex S.A., a Swiss technology leader in high-performance sensors for factory automation, has been acquired by Nordson Corporation, a US-based precision technology company. Contrinex will become part of Nordson’s Advanced Technology Solutions segment. The acquisition complements Nordson’s test and inspection portfolio with expertise in sensing technologies for harsh environments and miniature precision positioning, expanding its capabilities in factory automation and control. Contrinex will benefit from Nordson’s global sales infrastructure and continued investment in bringing its technologies to more customers worldwide.
Learn moreValuation advisory has been provided to a co-investor in VDK
EMK Capital has transferred VDK Groep B.V. from EMK Capital Partners Fund I into the newly established US$1.4 billion single-asset continuation fund, the EMK VDK Partnership Fund, alongside a co-investment from EMK Capital Partners Fund III. The transaction, co-led by LGT Capital Partners and Coller EQT, provides existing investors with the opportunity to retain their exposure to VDK while securing additional capital to support the company’s continued growth and buy-and-build strategy.
Learn moreBe-Cloud has been acquired by PSG Equity
Be-Cloud, backed by B&Capital since 2021, has been acquired by PSG Equity, a leading growth equity firm specializing in software and technology-enabled services. The transaction marks the full exit of B&Capital and the reinvestment of Be-Cloud’s founders, Lenny and Sébastien Vercruysse, alongside PSG Equity.
Learn more