Arvind Advanced Materials Ltd., a wholly owned subsidiary of India-based Arvind Ltd., announced the acquisition of nearly 61% stake in Dalco-GFT, a U.S.-based manufacturer of specialized needle-punched nonwoven specialty fabrics.
Arvind Advanced Materials supplies solutions for sectors such as protective gear, renewable energy, mass mobility and industrial filters. Dalco-GFT was founded in 1988 and provides specialized needle-punched nonwoven textile solutions across sectors, including automotive, industrial, construction and furniture. Dalco-GFT has two manufacturing units based in North Carolina and South Carolina.
“The acquisition of Dalco-GFT marks a transformational milestone in AAML’s growth journey. Through this transaction, we are entering the world’s largest technical textile market—the U.S.—through a platform that is both technologically aligned and operationally strong,” says Punit Lalbhai, vice chairman of Arvind Ltd.
“Our customers can expect the same great service, relationships and product quality they’ve always known—and we’re excited about what this transaction makes possible for them going forward,” says Joey Duncan, CEO of Dalco-GFT. “Our team remains fully committed to serving our customers with the same responsiveness and reliability they have come to expect.”
InCred Capital acted as the exclusive financial advisor to Arvind Advanced Materials on the transaction.
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