BOULDER - Dalco Nonwovens and Global Felt Technologies have been acquired by private equity firm Snow Peak Capital. Financial terms were not disclosed
The deal was completed in partnership with Joey Duncan, CEO of both companies.
Duncan has led Dalco and GFT since 2017 and will lead and retain significant ownership in both companies. The transactions represent Snow Peak's second platform investment.
Dalco, founded in 2003 and headquartered in Conover, NC, manufactures specialty light- and heavyweight nonwoven fabrics for a diverse customer base in the automotive, geotextile, furniture and bedding, and industrial markets. Located less than 100 miles away in Union, SC, GFT also manufactures nonwoven products for the automotive, industrial, and geotextile markets.
"The investment in Dalco and GFT will realize meaningful synergies and allow the firms to better serve their customers. We have great confidence in the abilities of Joey Duncan and his team to lead the businesses and look forward to partnering with him," said Snow Peak Managing Partner Steve Yager.
Duncan added: "I am extremely excited about this opportunity as it opens significant opportunities for Dalco and GFT to grow in the coming years. Dalco and GFT have reputations and brands that are synonymous with technical innovation, quality, and customer satisfaction. Finding an organization that shared those values was paramount in the decision to partner with Snow Peak."
"Dalco and GFT will continue to be known for dependability and commitment to quality. We are excited to support the business to help it continue to expand and meet the strong demand in the nonwovens market," said Snow Peak Partner Anthony Chirikos.
