Momentum Group an Irvine based textile maker selling textiles, primarily to furniture makers, architecture and design firms has been acquired by Cleveland-based Riverside Co. Terms of the deal were not disclosed.
Momentum has a highly-successful organic growth-oriented business model that stems from providing innovative sustainable products from a global supply base to a diverse set of customers in a variety of end markets, said Timothy Kuchi, NEP Partner and Momentum board member.
The company’s solid track record of outperforming the market year after year positions them well to continue on the same growth trajectory for the future.
Riverside Co. already has history with the company. The group invested in Momentum in 2006 before selling the company to Norwest Equity Partners in 2011. The group is now divesting the company back to Riverside Co.
Norwest Equity Partners doubled Momentum’s earnings before interest, tax, depreciation and amortization, according to a press release. Momentum was a great fit for their firm’s distribution investment strategy.
Researchers have created an innovative nanofibre patch that aims to simplify and improve the treatment of psoriasis, a common skin…
Clothing 2.0 has teamed up with The Marena Group LLC, a leader in medical-grade compression garments to transform the recovery…
Polartec has enhanced its Power Shield range, as it continues to replace petroleum-based materials with renewable alternatives while improving fabric…
Biomaterial company, Uncaged Innovations, has collaborated with ten independent fashion brands to launch Elevate, a new eco-friendly luxury leather alternative.
Rudolf introduced the Digital Pigment Printing Toolbox, a package of pre-treatment products to improve the quality and sustainability of pigment…
Aquafil Group, the innovator behind ECONYL regenerated nylon, has launched the ECONYL Bespoke Collection that mimic the aesthetics of natural…