RED BANK, N.J. – January 21, 2014 – Brand & Oppenheimer Co., Inc. (B&O), a leading textile converter, today announced it has acquired the assets of Performance Textiles, Inc., a leading supplier of high-performance fabrics engineered for domestic and export customers, some of whom have worked with the company since its inception in 1988. The acquisition was sponsored by Praesidian Capital, which is an investor in B&O.
The consensual acquisition will complement B&O’s textile capabilities with a diversified product line targeted to sports, recreational products, high visibility work-wear, commercial, military and government end uses. Founded by Bill Gerrow and Peter Sullivan, Performance Textiles has an industry reputation for designing and producing some of the best fabrics available in the market. Safety, maximum performance, and durability continue to be the main focus and are critical for fabrics that are destined for use in parachutes, hot air balloons, and industrial protective vests.
“Performance Textiles is a unique and well established company in our industry with similar production processes and suppliers to ours,” stated Dan Pezold, B&O President and CEO. “The company has distinguished itself as a technology leader, and its technical expertise along with strong customer and supplier relationships are valued additions to our business. We believe our combined resources will benefit everyone in the textile supply chain.”
“We look forward to the new opportunities that come with joining the Brand & Oppenheimer family. Our combined resources will allow us to serve our customers with new and different textile solutions,” Gerrow stated. “What will not change, however, is the excellent service and development of textile technology solutions to which our customers have become accustomed over the past 25 years.”
According to Jason Drattell, Founding Partner of Praesidian, “Since our initial investment in B&O, the company has attracted new management and developed a more strategic focus. We believe that the acquisition of Performance Textiles is an important step in that strategic plan.”