Highlander Partners, L.P. (“Highlander”), a Dallas-based private investment firm, today announced the sale of its portfolio company QTI Fibers (“QTI” or “the Company”) to Norwest Equity Partners (“NEP”). QTI is a US-based vertically integrated designer and manufacturer of a range of stylish, highly technical fibers and fabrics for high-end consumer and industrial applications.
QTI, with two significant manufacturing facilities in Dothan, AL, and Colfax, NC, together totaling 550,000 square feet, markets its products under three premium brands (Quantum, Twitchell and Infinity), all of which are known for high quality, reliability and first-to-market innovation. QTI Fibers sells its products across a global customer base of over 1,000 customers, solving solutions for customers who demand quality technical solutions with a high degree of customization, with product categories covering suspension seating fabric, shades and screens, coatings and non-woven laminates and woven flooring and outdoor design fabrics.
Highlander began the initial platform investment by acquiring Twitchell in 2015, which was followed by the acquisitions of Infinity (2016) and Quantum (2017) to build out a broad technical product offering and enter into high growth end markets, such as outdoor living and home interior repair and remodel segments.
Jeff L. Hull, President and CEO of Highlander Partners, added, “We are pleased with the type of business that QTI has evolved into and with the outcome of this investment. We believe QTI is now a leader in high-quality technical fibers and very well-positioned for continued growth and success going forward. NEP is an ideal partner to take the business to another level and we are very happy to see the management team partner with them for future successes.”
Lincoln International LLC served as financial advisor and Katten Muchin Rosenman LLP served as legal counsel to Highlander Partners, L.P., for the sale of QTI Fibers.