Salem Invests in Polyester Fibers

Salem Invests in Polyester Fibers

polyester nf1Polyester Fibers, a manufacturer of nonwoven polyester materials, has completed a management-led buyout from its parent company, Empire Investment Holdings. The buyout was funded by Polyester Fibers’ management team and financing was provided by Salem Investment Partners and JPMorgan Chase.

Polyester Fibers is a manufacturer of precision-engineered, nonwoven materials.  The company manufactures products for filtration, furniture and bedding, automotive, industrial, and retail customers.  Nonwoven fabric is a fabric-like material made from long fibers, bonded together by chemical, mechanical, heat or solvent treatment. The term is used in the textile manufacturing industry to denote fabrics, such as felt, which are neither woven nor knitted.  Polyester Fibers operates nine manufacturing and distribution facilities across five operating units:  Tupelo Fibers®, Cameo Fibers®, Cumulus Fibres®, Mountain Mist®, and Buffalo Batt®.  The company has approximately 550 employees and was founded in 1968. Polyester Fibers is headquartered in Conover, NC (

faris nf1“Polyester Fibers is a great example of the kind of company we look for as investors, bringing a cohesive, experienced management team, strong client relationships and a solid track record of performance year-after-year,” said David Faris, Partner, Salem Investment Partners. “Their industry experience puts them in a unique position to expand their customer base and accelerate growth in their key focus areas.”

Salem Investment Partners provides debt and equity capital of $2 million to $10 million to lower middle-market companies that have revenues of at least $10 million and EBITDA of at least $1 million. Typical investments will take the form of subordinated debt and warrants and/or preferred and common equity investments in select situations.  Sectors of interest include business and information services, communications and media, consumer products, distribution and manufacturing, and healthcare services.  Salem was founded in 1999 and is based in Winston Salem, NC with an additional office in Charlotte, NC (

“Owning a company with high quality products and long standing customer relationships gives us a platform to unleash enormous potential,” said Keith White, President & CEO of Polyester Fibers. “That potential will drive increased market share as we focus on continuous innovation and expansion of our line of quality products to better serve our customers’ needs.”

2014 PEPD • Private Equity’s Leading News Magazine • 7-9-14

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