Snow Peak acquires two fabric manufacturers Dalco and GFT

• The transactions represent Snow Peak’s second platform investment
• Fidus Partners served as financial advisor to Dalco and GFT
• Based in Boulder, Snow Peak Capital invests in middle-market businesses across the industrial, technology, and business services sectors

Snow Peak Capital has acquired Conover, North Carolina-based Dalco, a maker of specialty light- and heavyweight nonwoven fabrics and Union, South Carolina-based Global Felt Technologies, a maker of nonwoven products. No financial terms were disclosed.
Joey Duncan, CEO of both Dalco and GFT since 2017, will continue to lead and retain significant ownership.

The transactions represent Snow Peak’s second platform investment.

“The investment in Dalco and GFT will realize meaningful synergies and allow the firms to better serve their customers. We have great confidence in the abilities of Joey Duncan and his team to lead the businesses and look forward to partnering with him,” said Snow Peak Managing Partner Steve Yager in a statement.

Stradling Yocca Carlson & Rauth acted as legal advisor and Moss Adams provided financial advisory services to Snow Peak. Fidus Partners served as financial advisor to Dalco and GFT. Parker Poe and Culp Elliot & Carpenter served as legal advisors to Dalco and GFT, respectively. PNC Bank provided debt financing. Global Endowment Management provided equity financing alongside Snow Peak in this transaction.

Based in Boulder, Snow Peak Capital invests in middle-market businesses across the industrial, technology, and business services sectors.