by Purchase includes Revolution Fabrics and Brentwood Textiles based in Kings Mountain, North Carolina
KINGS MOUNTAIN, N.C. — Los Angeles-based private equity firm Paradigm Equity Partners has acquired domestic upholstery and performance fabrics manufacturer STI Fabrics.
Based in Kings Mountain and founded in 1964, STI Fabrics includes domestic resources Revolution Performance Fabrics and sister company Brentwood Textiles.
”STI’s integrated domestic manufacturing capabilities support responsive service, consistent quality and reliable delivery across indoor and outdoor applications,” Paradigm said in a statement announcing the transaction.
“STI has built a business with deep customer relationships, a skilled workforce and a differentiated position in American textile manufacturing,” Roman Zelinsky, founder and managing partner of Paradigm, said in a statement. “Revolution combines performance and design with the reliability of domestic production. We see a substantial opportunity to build on that foundation by strengthening operations, investing in the business and expanding STI’s reach across customers and end markets.”
Paradigm also said that the purchase “builds on the firm’s experience acquiring established businesses through ownership transitions. Paradigm works with sellers and their advisors to address transaction complexity and develop a practical plan for the business following closing.”
“Our approach begins with understanding what is important to the business and what the organization needs to succeed under new ownership,” Zelinsky added. “We bring a disciplined diligence process and flexibility in structuring transactions, then work hand-in-hand with management after closing to translate the investment plan into operating results. STI is a strong fit for that approach, with an established manufacturing platform and clear opportunities to grow.”
Zelinsky told Home News Now that over the past several weeks, the company has communicated details about the purchase to STI customers, which include many upholstery resources.
“We got the buy-in we were looking for and are going to proceed with our plan,” he said, declining further specifics, including what the purchase may mean for the company’s customer base over the short and long term.
It also was unclear whether existing management remains in place and what Paradigm plans for the company’s domestic manufacturing operations.
The companies will be open at this coming week’s Interwoven event where they will show customers new fabrics and also answer questions about the acquisition. Revolution and Brentwood Textiles show on the third floor of 312 S. Hamilton St.
