Sun Capital Partners, Inc. Affiliate Acquires Consoltex Inc.

Boca Raton, FL — Sun Capital Partners, Inc. ("Sun Capital"), a leading private investment firm specializing in leveraged buyouts of market-leading companies, today announced that one of its affiliates has acquired the stock of Consoltex Inc. ("Consoltex") from American Industrial Partners. Consoltex is a leading vertically integrated North American manufacturer, importer, and distributor of woven, man-made technical fabrics, and is the largest textile manufacturer in Canada.

Consoltex's manufacturing operations consist of transforming raw yarn materials into usable fabrics through its weaving, dyeing, printing, coating, laminating, and finishing processes. Consoltex focuses on leveraging its technical expertise to provide customized solutions. Its vertically integrated operation allows it to supply customers with short run orders and respond to requests on a quick-turn basis.

Marcel Thibault, CEO of Consoltex Inc., stated, "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."

M. Steven Liff, Managing Director, Sun Capital Partners, added, "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."

SOURCE: Sun Capital Partners, Inc.