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