Qual-Fab Taken Private
June 4, 2007-- Home Textiles Today,
Qual-Fab, a long time printer and converter of decorative fabrics, has been sold to a private equity group, Innovo Capital of Miami.
Saul Levine, 87, founder of the company has retired. His daughter Jil Liebson who has been president, retains that position and will focus on product and marketing. Howard Wasserman, an investor in the company, has been named ceo and will be responsible for manufacturing and operations, said Matt Becker, one of the managing partners of Innovo.
Despite the dramatic exodus of American production in the decorative fabrics business, Becker is confident. "We are injecting cash into the business for equipment and new product lines, and see a lot of growth potential for existing product as well as new markets," he explained.
"They are one of the biggest suppliers in the manufactured housing and recreational vehicles market," Becker related. "Next we see an opportunity for them to produce small quantities for American manufacturers vs. the quantities that are needed from Asia. There's also a big service model in terms of delivery." And Qual-Fab, an early player in the digital printing arena, "has a great opportunity to maximize this, especially with the higher end of the market." Becker added, "We like the history of the company and Jil is spectacular."
Purchase price was not available.
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