Twitchell Technical Products, a Portfolio Company of Highlander Partners, Acquires The Quantum Group
DOTHAN, Ala., May 3, 2017 /PRNewswire/ -- Highlander Partners' portfolio company, Twitchell Technical Products, a leading specialty materials company focused on engineered polymer fabrics and coated films, today announced that its parent company acquired The Quantum Group ("Quantum"), a leading manufacturer and innovator of unique yarns and high-performance woven fabrics to the furniture, construction, recreational, industrial, healthcare, automotive and airline industries.
Founded in 1985, Quantum is a vertically integrated yarn and fabric manufacturer with expertise in mono- and multi-filament yarns and possessing extensive yarn preparation processes, including warping, texturizing and twisting fibers, producing a wide variety of engineered performance characteristics, patterns and textures. Examples of these creations include fabrics with unique performance characteristics for a wide range of uses like the Pellicle® fabric for the iconic Herman Miller Aeron chair and the roof fabric in use today on Centre Court at the Wimbledon Tennis Center.
Quantum's facilities, located in Colfax, North Carolina, are ISO 9001 and ISO 14001 certified and all of the Company's products are manufactured in the USA.
Founder Jeff Bruner, who started the business to provide unique technical solutions that were not achievable by other textile companies, will remain with Quantum as General Manager, is a continuing shareholder and will join the Twitchell management team as Chief Technology Officer.
"I am pleased to be joining forces with the people and business of Twitchell to continue Quantum's focus on innovation and growth as we leverage our combined technologies into new and exciting products," said Jeff Bruner.
"We are thrilled about the addition of Quantum's technology, products, customers and people to our growing platform of technology driven specialty materials," said Jeff Register, Twitchell's Chief Executive Officer. "The acquisition of Quantum expands our reach into complementary categories and strengthens Twitchell's technological expertise and strategic positioning. Like Twitchell, Quantum takes a customer-centric approach, providing customers with leading-edge fabric technology, superior service and customized solutions, and the two organizations are a great cultural fit. We are looking forward to partnering with Jeff Bruner, a recognized leader in the industry, and his team and continuing Quantum's culture of innovation."
Mike Nicolais, Chairman of Twitchell and CEO of Highlander Partners, commented, "The addition of Quantum is another example of Highlander's ongoing strategy of executing strategic add-on acquisitions that expand our portfolio companies' product offerings and market share. This is our second acquisition in the last twelve months and Twitchell is well positioned to continue supplementing its organic growth with M&A opportunities. We are excited about this combination and we are fully committed to continue our strategy of building a leading specialty materials company."
Regions Bank, as Administrative Agent, along with a syndicate of participating lenders, provided senior financing for the transaction.
About Highlander Partners
Highlander Partners, L.P. is a Dallas-based private investment firm with over $1.2 billion of assets under management. The firm focuses on making investments in businesses in targeted industries in which the principals of the firm have significant operating and investing experience, including basic manufacturing, food, chemicals, building materials, consumer products, and more. Highlander Partners uses a "buy and build" investment approach, creating value by helping companies grow organically and through acquisitions. For more information, visit www.highlander-partners.com.
About Twitchell Technical Products
Twitchell is a specialty materials company focused on manufacturing fibers, textiles and coatings. The company offers a broad range of specialty woven and knit fabrics, as well as technical coatings and laminates for a wide variety of applications from designer outdoor furniture to commercial products. For more information about Twitchell, visit www.twitchellcorp.com.
About The Quantum Group
The Quantum Group, a leading manufacturer and innovator of unique yarns and high performance woven fabrics to the furniture, construction, recreational, industrial, healthcare, automotive and airline industries. For more information about Quantum, visit www.quantum5280.com.
SOURCE Highlander Partners, L.P.
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