PCP Ventures Acquires Pellon, a 75-Year-Old Clearwater Fabric Business With 95 Employees

PCP Ventures LLC has acquired Pellon, a 75-year-old fabric business based in Clearwater, Florida, that employs approximately 95 people. The Tampa Bay-based investor group announced the deal on November 3, according to EIN Presswire. Pellon makes interfacings, stabilizers, batting, fiberfill, foams and other specialty fabrics at its 220,000-square-foot manufacturing facility in Clearwater.

Pellon's Bankruptcy Sale to PCP Ventures

PCP Ventures is led by a Tampa Bay-based investment group representing family offices with combined assets of close to $1 billion, including Adam Schoenbaum and Ron Ciganek. The group brings experience in commercial real estate, manufacturing, consumer brands, distribution, finance and turnaround leadership. Pellon's products reach customers through Walmart, Hobby Lobby and Michael's in the U.S., and worldwide through distributors that reach over 5,000 other stores.

PCP's acquisition came out of the bankruptcy process. "We are incredibly excited about Pellon," said Adam Schoenbaum, co-founder of PCP Ventures. "Very few brands become a household name in any category, and Pellon has done exactly that in a $27 billion market in the U.S. Alone." Schoenbaum added that the group's job is to invest in the people, the plant and the product.

PCP Ventures plans to invest in Pellon's Clearwater facility, its workforce and its systems and equipment to improve production, service levels, speed to market and product quality. Customers can continue to find the full Pellon product line at retail partners, and existing customer, distributor and supplier relationships will continue without disruption. Amy Berg, vice president of sales who has been with Pellon for 15 years, said: "Pellon is more than a brand, we are family."

Other Industrial Deals in Early November

Platinum Equity acquired Warren Valve, a Houston-based valve supplier serving energy and industrial markets, from Allied Group on November 2; terms were not disclosed, and Allied's founder and CEO will remain minority shareholders. Also on November 2, Golden Gate Capital announced the recapitalization of All U Need Pest Control, which serves over 50,000 customers across 12 locations in Florida, Texas and South Carolina; terms were not disclosed. Speyside Equity Advisers completed its acquisition of The TAPCO Tube Company, a Midwest-based manufacturer of steel tubing and building products, on October 29.

Pellon's 1950 Freudenberg Origins

Pellon's story began in 1950, when the Pellon trademark was developed in connection with Freudenberg, the German nonwovens pioneer. Early Pellon interfacing offered an alternative to the woven canvases and haircloth traditionally used by tailors to give garments shape and structure. The brand's portfolio now includes fusible and sew-in interfacings, stabilizers, quilt batting, fiberfill, fusible fleece, craft foams and fusible tapes.