CLOVERDALE, CA, September 22, 2016-

Private equity firm H.I.G. Capital bought a controlling stake of Italian nonwovens producer Texbond last week and plans to use the spunbonder as a vehicle to build a large new player that potentially could have multinational scale several times its present size. The existing company management will remain in place.

Raffaele Legnani, managing director and head of H.I.G. in Italy, commented that, “We believe that Texbond is a unique player in the industry which can serve as a platform for a buy and build strategy at a global level, capitalizing on H.I.G.’s international network and financial resources to support the development plan. Jonathan Bourget, senior advisor to H.I.G., with extensive experience in the industry, has also invested in the transaction and will assist us in scouting and analysing acquisition opportunities.”

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