Posted October 6, 2015

 

NEW YORK – Universal Fiber Systems LLC (UFS), a Bristol, Va.-based producer of solution-dyed, synthetic filament-based fiber for the flooring, transportation performance apparel and industrial fibers industries, has been acquired by investment firm H.I.G. Middle Market.

 

Universal has been owned by the Sterling Group, a private equity firm based in Houston, since 2007.

 

With manufacturing facilities in the United States, Europe, Thailand and China, UFS serves customers in the commercial, residential and transportation carpet industries through its Universal Fibers division and serves customers in diverse technical fiber end-markets, including performance apparel and technical fabrics through its Premiere Fibers division.

 

“We are thrilled to work with H.I.G.,” said Marc Ammen, CEO of Universal Fiber Systems. "This partnership will support UFS in our resolve to remain the leader in innovation, service and quality for each of our end markets. Those are attributes that our customers and supply partners have come to expect. Additionally, this will enable the continued globalization of our operations and market reach. We have invested in each and every one of our facilities and this will further our momentum. I am very excited about the future of our company and the partnership with H.I.G."

 

H.I.G. is a middle market investment affiliate of H.I.G. Capital, a global private equity investment firm with $19 billion of equity capital under management.

 

“We are excited to partner with Marc Ammen and the entire UFS team to continue the company’s strong growth,” said Tenno Tsai, managing director at H.I.G., “We look forward to working with the management team to support the company’s commitment to bringing the highest levels of quality, service and innovation to its customers.”

 

Source: H.I.G. Capital