Posted September 8, 2014

 

GIBSONVILLE, N.C. – Banyan, the parent company of Burlington Technologies, has acquired Keystone Weaving of Lebanon, Pa.

 

Banyan, a private investment firm headquartered in Miami, is a majority shareholder of Burlington Technologies, which is based here.

 

The move will add about 25 jobs initially, with expected growth in the future, Banyan said. The deal will provide Burlington Technologies with Jacquard and dobby looms, related textile weaving equipment, the Keystone brand and Keystone’s business for home and apparel fabrics markets.

 

Equipment relocation to Burlington’s 300,000-square-foot weaving operation here has begun. Several members of Keystone’s management staff will join Burlington.

 

Se7en, Bentex and Keystone will remain as independent divisions, and sales staffs and showrooms will also remain independent. Se7en makes woven jacquard fabrics for home furnishings and Bentex makes fabrics for corporate, healthcare and hospitality spaces. Burlington Manufacturing Services is another division, and produces and supplies yarns both internally and to external customers.

"The joining together of three excellent weavers is in perfect step with the 'on-shoring' process that is taking place in the home fabrics and furnishings arena," Banyan Chairman John Miller said. "Our challenge is to take advantage of the opportunities awaiting us and our competitors."

 

Terms of the asset-based transaction were not disclosed.

Burlington Technologies parent acquires Keystone Weaving