Victor Capital Partners has acquired fabric insulation producer PrimaLoft from Prudential Capital Group. The buyer teamed with private equity firm Allstate along with the target's management team on the transaction.

Founded in 1988, Latham, New York-based PrimaLoft makes insulation, fabrics and yarns for outdoor and hunting apparel, military gear and home furnishings. The company has additional offices in Germany and China. “This is an incredible opportunity to enhance the future of PrimaLoft," says PrimaLoft CEO Mike Joyce. Madison Capital, Antares and Intermediate Capital Group provided financing.

The acquisition of PrimaLoft marks the first for Victor Capital since the private equity firm was founded in 2015. Victor Capital is located in New York and concentrates on the consumer and industrials sectors.

In other similar deals, Arlington Capital acquired seat fabric manufacturer Tex Tech and in 2016, Platinum Equity bought International Textile Group.

Financial terms of Victor Capital's investment were not disclosed.

Fabric and Yarn
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Demitri Diakantonis

Demitri Diakantonis

Demitri Diakantonis joined SourceMedia in 2015 and serves as Assistant Managing Editor of Mergers & Acquisitions and writes The Buyside column about corporate dealmaking, and also covers the consumer sector.