Calera Acquires Carnegie Fabrics

Calera Acquires Carnegie Fabrics

Calera Capital has acquired a majority equity interest in Carnegie Fabrics, a supplier of textiles used in the corporate, healthcare, hospitality, and education building markets.

Carnegie’s products are sold under the Xorel brand name and are used for wallcoverings, draperies, upholstery, and interior privacy panels. According to the company, Xorel fabrics provide an alternative to standard polyvinyl chloride (PVC) interior materials (Xorel is a woven polyethylene textile) and a new product introduced by Carnegie in 2013, Biobased Xorel, is a plant-based product with an even lower carbon footprint. The company’s emphasis on sustainable products is strategic. Carnegie is a certified B Corp, a designation provided by B Lab, a nonprofit organization that recognizes companies that are dedicated to social and environmental performance, public transparency, and legal accountability.

Cliff Goldman, Carnegie’s President, will retain an equity interest in the business under Calera ownership. “We are extremely pleased to be partnering with Calera Capital to help us take our business to the next level.” said Mr. Goldman. “The team at Calera shares our vision for the business and their broad base of experience will help us further differentiate our company and strengthen our industry leading position.”

“Carnegie has a long and successful track record of providing high-performance interior textiles to the architecture and design community and their clients. As a leading independent firm with a proven history of product innovation, there remain significant opportunities for further growth,” said Mark Williamson, Managing Partner of Calera Capital. Mr. Williamson and Managing Director Ethan Thurow led Calera’s investment in Carnegie.

Calera Capital invests from $35 million to $200 million in companies with enterprise values from $100 million to $750 million.  Sectors of interest include business services and specialty industrials. Carnegie represents Calera’s second investment for the firm’s fifth fund which had a final close in April 2016. The first Fund V portfolio company was acquired in November 2015 with the buy of Transaction Services Group, an outsourced provider of service technologies that enable businesses to accept recurring payments from customers. Calera was founded in 1991 and has offices in San Francisco and Boston (

Family-owned Carnegie was founded by Robert Goldman in 1950 and is based on Long Island in Rockville Centre, NY (

© 2017 Private Equity Professional | January 12, 2017

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