Immediate Opportunity Weaver of Dobby and Jacquard Fabrics

Cliffside, NC (Rutherford County)

Immediate Opportunity Weaver of Dobby and Jacquard Fabrics
Contact Seller

Asking Price: N/A

Cash Flow: N/A

Gross Revenue: $8,742,000

EBITDA: N/A

FF&E: N/A

Inventory: $2,660,000

Rent: $0.13 /Month

Established: 1982

Immediate Opportunity Weaver of Dobby and Jacquard Fabrics

Save Print Share Valuation Report

Business Description

Immediate Opportunity: Weaver of dobby and Jacquard Fabrics

Equity Partners HG has been retained to find strategic investors, partners or a buyer for a textile manufacturer (“The Company”), who specializes in the weaving of jacquard and dobby fabrics for a wide variety of applications, including upholstery, bedding, wallcovering and window treatments.

The Company’s 150,000 square foot facility in North Carolina is vertically integrated to weave and finish fabrics ranging from 54” - 135” wide. This unique domestic footprint allows them to service a diverse portfolio of high-volume customers, from hospitality and residential furniture manufacturers, to drapery manufacturers, to bedding retailers and transportation OEMs.

The history of The Company’s formation follows the lineage of two historic textile mills: The predecessor to The Company and Cone Jacquards. The predecessor to The Company was originally founded in 1987 by a former Milliken manager with expertise in custom woven fabrics. This plant serviced the contract and home furnishings upholstery markets with dobby weaving and finishing. The Company’s current owner purchased the mill in 2006 with an eye to expand it into broader markets and diversify its product catalogue.

Meanwhile, Cone Jacquards was formed in 1995 in collaboration between Cone Mills Corporation and Andrew Major, the former president of Mastercraft Weaving Corporation. At the time of Mr. Major’s involvement with Mastercraft it was the largest jacquard fabric manufacturer in the world. Upon retiring from Mastercraft, Mr. Major teamed up with Cone Mills Corporation, a multi-national denim manufacturer, to build the most modern wide-width jacquard weaving facility in America. This new venture, called Cone Jacquards was based in Cliffside, NC.

In 2004, the Cone Mills Corporations, including the Cone Jacquard facility, were bought by Wilbur Ross whom formed ITG (International Textile Group) along with the assets of Burlington Industries.

In 2011, The Company’s current owner took the opportunity to purchase the Cone Jacquards facility, and combined with their existing textile plant, created a vertically integrated domestic platform that is primed for growth while retaining entrepreneurial flexibility.

The consolidation of the two plants in 2013 along with the addition of cut/sew in 2016 and the installation of a wide finishing line in late 2017 exemplifies the commitment The Company has made to its strategic manufacturing position. Today the plant operates at 20% of its capacity and requires minimal to no major equipment expansion in order to quadruple its output.

This is an excellent opportunity to partner with, invest in, or acquire an established textile manufacturer with a deep history and significant excess capacity. For more information, please contact Fred Cross or send an executed Confidentiality Agreement

Detailed Information

Location:
Cliffside, NC
Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
150,000
Lease Expiration:
10/31/2022
Employees:
75
Facilities:
Facility is clean and well designed for fabric production and finishing.
Growth & Expansion:
The company currently utilizes roughly 20% of their capacity.
Financing:
Real estate is owned by a related party.
Support & Training:
Current management desire to stay with the company.
Reason for Selling:
Financial.
Business Website:
http://abercrombietextiles.com/
Contact Seller

Contact the Seller

Contact Seller Loading

Ken Mann

Business Listed By:
Debbie Beall

Equity Partners, Inc.

Show Phone Number

View My Listings

Listing Statistics

Saved This Listing:
Unlock
Days Active On Site:
Unlock
Appeared in Search:
Unlock
Listing Detail Views:
Unlock


Ad#:1584187 Report an issue with this listing

The information in this listing has been provided by the business seller or representative stated above. BizBuySell has no stake in the sale of this business, has not independently verified any of the information about the business, and assumes no responsibility for its accuracy or completeness.
Read BizBuySell's Terms of Use before responding to any ad.


Similar Listings


Maaco Franchising

Franchise Opportunity
Capital Required: $300,000