Attract Capital LLC, a New York-based merger and acquisition advisory firm, is pursuing acquisitions in the textile converting industry. According to David Barnitt, president of Attract Capital, “We believe the textile converting market has realigned and we are enthusiastic about its future growth potential.” The firm has teamed up with a large institutional fund based in New York City to provide funding for the acquisitions.
The parties are looking to acquire several mid-sized companies over the next 12 months. The companies being targeted are mid-sized companies with outsourced manufacturing that sell into a variety of end markets such as apparel, industrial and specialty fabrics. The acquisition program has just started, and Barnitt believes that it will be well received by textile converting companies. “We are interested in speaking with business owners who have an interest in exiting ownership of their textile converting businesses,” said Barnitt. “All discussions are handled with the highest level of confidentiality and all parties will execute non-disclosure agreements. Each prospect will receive a free valuation consultation.”