Momentum Textiles, a portfolio company of The Riverside Company, has acquired Sina Pearson, a contract textile supplier that designs and distributes fabric to architectural and design firms. Riverside acquired Momentum Textiles from Norwest Equity Partners in April 2016.
Momentum Group distributes fabrics to commercial furniture manufacturers as well as architectural and design firms that serve the office, hospitality, education and healthcare markets. The company is led by its CEO Roger Arciniega and has approximately 150 employees. Momentum Group is headquartered in Irvine, CA (www.themomgroup.com).
Sina Pearson founded her namesake company in 1990 and has earned a reputation as an innovative designer of boutique artisan products in the high-performance fabrics sector. The company also offers high-end natural product lines that include wool and mohair-based fabrics.
“With Momentum Group, Ms. Pearson will continue to design many more extraordinary fabrics now unencumbered by the daily task of running a business,” said Mr. Arciniega. “She can focus 100% of her efforts on designing beautiful products for our customers.”
“Sina Pearson is well known for its exceptional product lines developed over the course of three decades,” said Riverside Partner Meranee Phing. “We’re pleased to elevate Momentum’s market position as a high-quality textile provider while providing Sina Pearson fabrics with exponentially more exposure thanks to Momentum’s operational excellence and sales and marketing strength.”
Working with Ms. Phing on the transaction for Riverside were Partner Karen Pajarillo, Senior Associate Caroline Shettle and Associate Ryan Collins. Partner Anne Hayes worked on financing the transaction for the firm.
The Riverside Company is a global private equity firm focused on investing in and acquiring growing businesses valued at up to $400 million. Since its founding in 1988, Riverside has invested in more than 420 transactions. The firm’s international portfolio includes more than 80 companies. Riverside is headquartered in New York with additional offices in Atlanta, Chicago, Cleveland, Dallas, Los Angeles, San Francisco, and London (www.riversidecompany.com).
© 2016 Private Equity Professional • 8-11-16