Snow Peak Capital Announces Sale of Majority Interest in Dalco-GFT to Arvind Advanced Materials Limited

BROOMFIELD, Colo., May 6, 2026 /PRNewswire/ -- Snow Peak Capital, LLC (Snow Peak), a private equity firm focused on middle-market businesses, today announced the sale of Dalco-GFT Nonwovens (Dalco-GFT), a leading manufacturer of needle-punched nonwoven specialty fabrics, to Arvind Advanced Materials Limited (AAML), a wholly owned subsidiary of Arvind Limited (Arvind), a leading global textiles and advanced materials company headquartered in Ahmedabad, India. Snow Peak and Joey Duncan, Dalco-GFT's chief executive officer, will retain a minority equity stake in the company.

Headquartered in Conover, North Carolina, Dalco-GFT manufactures specialty light- and heavyweight nonwoven fabrics for a diverse customer base across the automotive, furniture and bedding, geotextile, and industrial markets. Since Snow Peak's investment in 2022, Dalco-GFT has continued to build on its strong foundation through investments in new equipment, expanded manufacturing capacity, operational enhancements, additions to the management team, and continued diversification of its customer base.

"Dalco-GFT is an excellent example of how Snow Peak seeks to partner with founder-led industrial businesses," said Steve Yager, managing partner at Snow Peak. "Since our initial investment, we have worked closely with Dalco-GFT's leadership team to help build long-term value, and we are pleased to continue to have a stake in the firm."

"Joey Duncan, Matt Sims, and the entire Dalco-GFT team have built a highly respected platform with deep technical expertise, strong customer relationships, and differentiated manufacturing capabilities," added Anthony Chirikos, partner at Snow Peak. "We are proud to have supported the company's growth and believe Arvind is an ideal strategic owner for Dalco-GFT's next chapter."

Duncan will continue to lead Dalco-GFT as chief executive officer and Sims will remain president.

"We value Snow Peak's partnership and support in building Dalco-GFT into a stronger and more capable organization," Duncan said. "The investments made during Snow Peak's ownership have positioned the company for continued success, and we are excited to join with Arvind as we enter our next phase of growth. Arvind brings global scale, deep technical textile expertise, and a strong strategic commitment to advanced materials, creating significant opportunities for our employees and customers."

Punit Lalbhai, vice chairman of Arvind Limited, said, "The acquisition of Dalco-GFT marks a transformational milestone in AAML's journey. Through this transaction, we are entering the world's largest technical textile market with a platform that is both technologically aligned and operationally strong. The continued participation of the existing shareholders reflects strong alignment and confidence in the future of the business."

Lincoln International served as sell-side advisor to Snow Peak Capital in connection with the transaction.

About Snow Peak Capital, LLC

Snow Peak Capital is a Broomfield, Colorado-based private equity firm that invests in middle-market businesses across the industrial, technology, and business services sectors. Snow Peak Capital's founders have more than 50 years of combined M&A and operating experience, having led or been involved in more than 60 private equity transactions during their careers. Snow Peak seeks acquisition opportunities in which it can bring lasting improvements to its partner firms, either directly or through its network of operating relationships. For more information, visit: www.snowpeakcapital.com.

About Dalco-GFT Nonwovens, LLC

Dalco-GFT is a leading manufacturer of needle-punched nonwoven specialty fabrics for the automotive, furniture and bedding, geotextile, and industrial markets. Headquartered in Conover, North Carolina, Dalco-GFT manufactures specialty light- and heavyweight nonwoven fabrics for a diverse customer base. For more information, visit www.dalcononwovens.com.

About Arvind Limited

Arvind is a textile to retail conglomerate with a focus on textiles, apparels, advanced materials, environmental solutions, telecom and Omni-channel commerce. Arvind Limited is an integrated solutions provider in textiles with strong fiber to fashion capabilities for a global customer base. It is also a design powerhouse implementing innovative concepts and generating intellectual property. It ranks amongst the top suppliers of fabric worldwide. The company strives every day to create opportunities beyond conventional boundaries and believes that the possibilities are endless. For more information, please visit https://www.arvind.com.

About Arvind Advanced Materials Limited

Arvind Advanced Materials Limited (AAML), a wholly owned subsidiary of Arvind Limited, operates a scaled advanced materials platform with leadership positions across critical sectors including protective gear, renewable energy, mass mobility, industrial filters and belting. Backed by Arvind Group's century-long manufacturing heritage, AAML has built an innovation-driven portfolio with deep vertical integration spanning materials, processing and finished products. The platform currently operates across three key verticals: Human Protection, Composites and Industrial Applications.

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SOURCE Snow Peak Capital