Groesbeck filtration unit integrated into Polyester Fibers

Investment firm Empire Investment Holdings has finalised the integration of the Groesbeck filtration business unit, formerly a division of Ahlstrom Corporation, with its platform portfolio company Polyester Fibers.
“I am very pleased with both the speed and accuracy in which our operations team has completed the integration of the Groesbeck filtration business unit into Polyester Fibers,” said David F Alfonso, Empire’s chairman and CEO. “We are committed to strategically growing our portfolio company both organically and acquisitively.”
The Groesbeck filtration business unit, which is now part of Cumulus Fibres, was acquired from Ahlstrom Corporation in December last year.
Polyester Fibers added over 100 employees, customers in North America, Asia and Europe, and annual revenues of approximately $25 million with the acquisition.

Source: WTiN

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