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Sun Capital Partners, Inc. (“Sun Capital”), a leading private investment firm specializing in leveraged buyouts and investments in market-leading companies, today announced that one of its affiliates has signed a purchase agreement to acquire the InterfaceFABRIC business, from Interface, Inc. (NASDAQ:IFSIA), an international provider of floorcoverings. Terms of the acquisition were not disclosed.
InterfaceFABRIC, based in Grand Rapids, MI, is the largest U.S. commercial contract manufacturer of interior fabrics and upholstery product for the office furniture industry, as well as a leading provider of specialized automotive, healthcare, and hospitality textile solutions. Office furniture fabric is marketed under the InterfaceFABRIC, Guilford of Maine, Chatham, Teknit, Infinity and Terratex brands. Recently, InterfaceFABRIC entered the automotive sector and is providing a “green” body cloth fabric for the Ford Escape. The Company has facilities in Elkin, NC; Guilford, ME; Grand Rapids, MI; and Ningbo, China.
Chris Richard, President and CEO, InterfaceFABRIC, said, “We are pleased to have entered into an agreement with an affiliate of an experienced financial sponsor. This transaction will provide us with the opportunity to benefit from Sun Capital’s operating experience as we seek to penetrate new market segments and continue on our path of offering environmentally sustainable fabrics.”
M. Steven Liff, Managing Director, Sun Capital Partners, Inc., added, “InterfaceFABRIC holds market leading positions in its various product lines and we look forward to supporting Chris Richard and the management team in their growth plans.”
About Interface, Inc.
Interface, Inc. (NASDAQ:IFSIA), is a recognized leader in the worldwide interiors market, offering floorcoverings and fabrics. The Company is the world's largest manufacturer of modular carpet under the InterfaceFLOR, FLOR, Heuga and Bentley Prince Street brands, and, through its Bentley Prince Street brand, enjoys a leading position in the high quality, designer-oriented segment of the broadloom carpet market.
About Sun Capital Partners, Inc.
Sun Capital Partners, Inc. is a leading private investment firm focused on leveraged buyouts, equity, debt, and other investments in market-leading companies that can benefit from its in-house operating professionals and experience. Sun Capital affiliates have invested in and managed more than 155 companies worldwide with combined sales in excess of $35.0 billion since Sun Capital’s inception in 1995. Sun Capital has offices in Boca Raton, Los Angeles, and New York, as well as affiliates with offices in London, Tokyo, and Shenzhen. For more information, please visit www.SunCapPart.com.