PAWTUCKET – The Cooley Group, a longtime family-owned manufacturer of technical textiles, has been acquired by its executive leadership in collaboration with J.H. Witney Capital Partners, a private-equity firm. The purchase, announced Monday by Dan Dwight, president and CEO of Cooley, will transfer ownership of the Pawtucket-based manufacturer to the five executive leaders and the private equity firm from its longtime owners, the Siener family.
Whitney has invested funds since its founding in 1946 in small and medium market companies. It manages about $1 billion in private capital, spread among 400 companies.
As part of the transaction, Cooley has acquired Vintex Inc., an Ontario, Canada-based manufacturer of technical textiles and custom coated fabrics.
With the acquisition of Vintex, Cooley will have more than 300 employees. Its headquarters will remain in Pawtucket, said Dwight.
The acquisition of the Canadian company allows Cooley to expand into medical device manufacturing and other products that will allow it to broaden its scope.
“This acquisition is to further accelerate the growth of Cooley,” he said. “This is a buy and build.”
Mary MacDonald is a PBN staff writer. You may contact her at MacDonald@PBN.com.
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