Arlington Capital Partners has acquired Portland, Maine-based Tex Tech, a maker of specialty high performance materials serving the aerospace, defense, industrial industries and select sporting applications. No financial terms were disclosed.
WASHINGTON–(BUSINESS WIRE)–Arlington Capital Partners (“Arlington Capital”), a Washington, DC-based private equity firm, today announced the acquisition of Tex Tech Industries, Inc. (“Tex Tech” or the “Company”). Headquartered in Portland, ME, Tex Tech is a leading manufacturer of specialty high performance materials serving the aerospace, defense, industrial industries and select sporting applications.
The Company’s global manufacturing footprint and extensive R&D team serve the complex needs of its growing customer base.
“Tex Tech’s unique capabilities and approach to the design and manufacture of specialty materials made this an attractive investment for us,” said Peter Manos, a Managing Partner at Arlington Capital. “CEO Ciaran Lynch and his management team have built an R&D-focused specialty materials company with growth opportunities across many end markets and we are excited to partner with them in the company’s next phase of ownership. Tex Tech represents another investment for Arlington in aerospace and defense specialty manufacturing which aligns with our focused investment approach.”
Ciaran Lynch, CEO of Tex Tech, said “We are excited to partner with Arlington Capital as we start our next chapter. The firm’s buy and build strategy, significant base of capital, as well as network of aerospace and defense relationships will allow us to rapidly increase the company’s scale. We look forward to continuing the strong partnership we have with our customers and serve their complex requirements for high performance textiles by continuing to expand our product offerings.”
Chris Stallmann, a Vice President at Arlington Capital, said, “Ciaran and his team have a great reputation in the high performance textiles market and Arlington looks forward to expanding the company through acquisition and continuing to invest in the company’s facilities. Manufacturing over 7,000 products, the company’s strong R&D capabilities as well as global manufacturing footprint allows it to be an end-to-end manufacturing partner for its customers’ most demanding specialty material requirements.”
About Tex Tech
Tex Tech is one of the world’s leading specialty textile material manufacturers that specializes in meeting the requirements of difficult and demanding customer applications. The Company’s research and development team allows it to be innovative, creative, and on the cutting edge for the benefit of its growing customer base. The Company has operations in the United States, United Kingdom, Ireland and Thailand. The Company’s headquarters are in North Monmouth, ME.
About Arlington Capital Partners
Arlington Capital Partners is a Washington, D.C.-area private equity firm that has managed $2.2 billion of committed capital via four investment funds, including Arlington’s fourth and most recent $700 million fund. Arlington is focused on middle market investment opportunities in growth industries including: aerospace/defense, healthcare, government services and technology and business services and software. The firm’s professionals and network have a unique combination of operating and private equity experience that enables Arlington to be a value-added investor. Arlington invests in companies in partnership with high quality management teams that are motivated to establish and/or advance their Company’s position as leading competitors in their field. www.arlingtoncap.com