Investment Firm Acquires Performance Fibres Business Unit

Sun Capital Partners has announced that one of its affiliates has purchased Honeywell International’s Performance Fibres business unit. The terms of the transaction were not disclosed. The new business, Performance Fibers, is a global leader in high-performance industrial fibres and related materials, with operations in the US, France, Korea and China.

“We are excited about the future of this business and the many growth opportunities we see in the global market for industrial fibres and related technologies,” said Greg Rogowski, Performance Fibers’ president and chief executive officer. “We plan to continue our leadership in this industry and to grow by providing our customers with the technology innovation they require and the quality and reliability they expect.” M Steven Liff, Principal at Sun Capital Partners, Inc, a leading private investment firm specialising in leveraged buyouts added, “Performance Fibers is a global leader, and by combining our business expertise at Sun Capital with the strengths of Greg Rogowski and his management team, we expect to enhance Performance Fibers’ position in its market niche. Through our investment, the company will be able to take advantage of numerous opportunities that will strengthen its core competencies.”