HIG Middle Market, the dedicated middle market investment affiliate of private equity firm HIG Capital, has acquired Universal Fiber Systems (UFS).
Headquartered in Bristol, VA, with additional facilities in the United States, Europe, Thailand and China, UFS is a global leader in the production of custom solution-dyed synthetic fibres. The Company serves customers in the commercial, residential and transportation carpet industries through its Universal Fibers division and serves customers in diverse technical fibre end-markets including performance apparel and technical fabrics through its Premiere Fibers division.
Tenno Tsai (pictured), Managing Director at HIG, says: “We are excited to partner with Marc Ammen and the entire UFS team to continue the Company’s strong growth. We look forward to working with the management team to support the company’s commitment to bringing the highest levels of quality, service and innovation to its customers.”
“We are thrilled to work with HIG,” says Marc Ammen, CEO of Universal Fiber Systems LLC. "This partnership will support UFS in our resolve to remain the leader in innovation, service and quality for each of our end markets. Those are attributes that our customers and supply partners have come to expect. Additionally, this will enable the continued globalisation of our operations and market reach. We have invested in each and every one of our facilities and this will further our momentum. I am very excited about the future of our Company and the partnership with HIG"
