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
Comtax has been acquired by Ryan
Comtax, a São Paulo-based tax technology consultancy specializing in tax determination and digital tax compliance, had been acquired by Ryan, the world’s largest firm dedicated exclusively to business taxes. The transaction marks Ryan’s entry into the Brazilian market, adding a specialized team and an established base of large corporate clients in Brazil, one of the world’s most complex tax environments, at a time when the country’s consumption tax reform is set to reshape how companies calculate and report indirect taxes. For Comtax, the acquisition brings access to Ryan’s global platform, technology and client network across more than 80 countries, creating opportunities to scale its tax determination and compliance offering beyond its current footprint. Comtax’s founders will continue to lead the business.
Learn moreCibus has acquired Aweta from Standard Investment
Standard Investment has reached an agreement with Cibus Capital, advisor to the Cibus funds, on the sale of Aweta, a global leader in fruit and vegetable sorting, grading and packing equipment. Completion of the transaction is expected in the coming weeks. The transaction provides Aweta with a strong partner to support the company’s next growth phase. Under Cibus’ ownership, Aweta will pursue further international growth and accelerate investment in R&D, supporting the installed base and product innovation, including software and AI capabilities. Aweta’s leadership team will continue to lead the business.
Learn moreGroGlass has been acquired by Apogee Enterprises
Apogee Enterprises, Inc. (Nasdaq: APOG), a leading US provider of architectural building products, services and high-performance coated materials, has acquired GroGlass, a Latvia-based developer and manufacturer of high-performance anti-reflective and UV-protective glass coatings. The acquisition brings GroGlass’ differentiated coating technologies and materials science expertise into Apogee’s performance surfaces segment, broadening its product offering and market reach while expanding its manufacturing and R&D presence in Europe.
Learn more