Private equity firm Calera Capital has acquired a majority stake in Carnegie Fabrics, a family-owned supplier and innovator of sustainable textiles and wallcoverings for the corporate, healthcare, hospitality and education building markets.
Cliff Goldman, Carnegie’s president, will retain a significant equity interest in the business. Terms of the transaction have not been disclosed.
Mark Williamson, managing partner of Calera Capital, says: “Carnegie has a long and successful track record of providing high-performance interior textiles to the architecture and design community and their clients. As a leading independent firm with a proven history of product innovation, there remain significant opportunities for further growth.”
Ethan Thurow, managing director of Calera Capital, adds: “Cliff Goldman and the Carnegie management team have developed Carnegie into a true industry leader, and we are delighted to support them as they further realise the substantial potential of the Carnegie franchise.”
“We are extremely pleased to be partnering with Calera Capital to help us take our business to the next level,” says Goldman. “The team at Calera shares our vision for the business and their broad base of experience will help us further differentiate our company and strengthen our industry leading position.”
Carnegie represents Calera’s second investment in Fund V. Williamson and Thurow led Calera’s investment in Carnegie and will join the company’s board.
