The Capital Corporation is pleased to announce the sale of Bradford Industries, Inc., a Lowell, Massachusetts based producer of coated fabrics and textiles to Wembley Enterprises. Terms of the sale were not disclosed.
Bradford produces coated fabrics and synthetic leathers for the automotive industry as well as other consumer and industrial markets. "Bradford has tremendous assets in manufacturing, technology and, of course people." said Sunil Kumar. "We are pleased to welcome Bradford's employees to the Wembly family and we are thrilled to add another producer of coated products to our company." Kumar is the past President and CEO of International Specialty Products (ISP) and of GAF Materials Corporation and he has led Wembly Enterprises through several successful acquisitions.
Jay Kumar, President of Wembly-owned Universal Plastics & Mayfield Plastics will serve as CEO of Bradford. Stephen Olsen, a Wembly Principal and Co-Investor in the Bradford business, will join Brad-ford as President.
Dick Satin, the retiring President of Bradford, said, "We're proud of the business that we've built at Bradford and we see a great future for our people with Wembly organization. The business is poised for growth and we think we've found the right buyer to help us in realizing the company's potential."
The Capital Corporation served as the exclusive advisor to Bradford Industries on the transaction.
About Bradford Industries: Bradford Industries is a leading manufacturer of coated fabrics for the airbag and airbag curtain markets. Bradford produces synthetic leathers for the automotive, RV, trucking, marine, contract furniture and fashion markets. Bradford produces coated fabrics and textiles for a number of other industrial and specialty applications, including for the military and sporting goods markets.
About Wembly: Wembly Enterprises is the family investment firm founded by Sunil Kumar. Wembly takes majority ownership positions in companies with specialized expertise in manufacturing and holds these companies for long-‐term growth. Established in 2012, Wembly already holds a number of portfolio companies and is actively seeking new investment opportunities. Wembly acquired Shawsheen Rubber Company, an Andover, MA producer of adhesive-coated products, in 2015.
About The Capital Corporation: The Capital Corporation has been helping lower middle market companies achieve their financial objectives since 1991. Our M&A team of professionals have closed hundreds of transactions and leverage our backgrounds from WallStreet and Fortune 500 companies for the benefit of our clients. The Capital Corporation is one of seven Merger & Acquisition firms in the nation that has achieved the exclusive IMAP status, allowing for unparalleled access to a global buyer network across three dozen countries. Please visit our website, www.thecapitalcorp.com.
Contact: Devin Green, 864.672.8400, dgreen@thecapitalcorp.com