Snow Peak Capital LLC, a Boulder, Colo.-based private equity firm focused on middle-market businesses, has acquired Dalco Nonwovens LLC and Global Felt Technologies in partnership with Joey Duncan, CEO of both companies.

Dalco, headquartered in Conover, N.C., manufactures light and heavyweight nonwoven fabrics for its customer base in the automotive, geotextile, furniture and bedding and industrial markets. Located in Union, S.C., GFT also manufactures nonwoven products for the automotive, industrials, and geotextile markets. Duncan has led Dalco and GFT since 2017 and will continue to lead and retain significant ownership in both companies.

“Dalco and GFT will continue to be known for dependability and commitment to quality. We are excited to support the business to help it continue to expand and meet the strong demand in the nonwovens market,” says Anthony Chirikos, Snow Peak partner.

Stradling Yocca Carlson & Rauth acted as legal advisor and Moss Adams provided financial advisory services to Snow Peak. Fidus Partners served as financial advisor to Dalco and GFT. Parker Poe and Culp Elliot & Carpenter served as legal advisors to Dalco and GFT, respectively. PNC Bank provided debt financing. Global Endowment Management provided equity financing alongside Snow Peak in this transaction.