Highlander Partners L.P., a middle market private investment firm based in Dallas, announced the acquisition of Twitchell Technical Products LLC (Twitchell) from a Capital Partners affiliate. Twitchell is a Dothan, Alabama-based manufacturer of engineered polymer fabrics and coatings that are inputs in a diverse set of end products, including interior window shades, awnings, screens, wall and floor coverings, environmental protection and containment products, surgical gowns, absorbents, automotive components, and industrial packaging.
Twitchell will continue to operate under its existing operating structure with its current management team, led by president and CEO, Jeff Register, an industry veteran with 28 years of experience in engineered fabrics and coated films. Since assuming their current positions in 2008, the company’s management team has executed upon numerous growth initiatives.
Register comments: “We are excited to be working with Highlander Partners, which has a strong track record of building long-term value for its portfolio companies. With Highlander’s financial, strategic and operational support, we will continue to expand upon our market position.”
In connection with Highlander’s investment in Twitchell, Highlander President Mike Nicolais will join Twitchell’s board and serve as chairman. Nicolais states: “Twitchell’s superior service and customized solutions have formed a loyal and growing customer base. We are excited to partner with such an experienced and proven management team to continue growing and developing innovative solutions for the company’s customers. In addition, similar to our other portfolio companies, we intend to supplement organic growth with strategic acquisitions that will help us increase scale and broaden product offerings.”
Register, who will continue to lead the business as Twitchell’s president and CEO, adds: “While our ownership has changed, our commitment to our customers remains stronger than ever. We look forward to working with our new partners to accelerate our positive momentum in the marketplace—driving growth by better understanding our customers’ needs and providing differentiation through product innovation and customer service.”
Piper Jaffray served as the exclusive financial advisor to Capital Partners in connection with this transaction. Regions Capital Markets arranged the senior credit facilities in support of the transaction.
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