Deloitte Corporate Finance LLC advises Fabric Development, Inc. and Textile Products, Inc. in their sale to Kordsa Global, a subsidiary of Sabanci Holding
August 10, 2018 --
CHARLOTTE, N.C., Aug. 10, 2018 /PRNewswire/ -- Deloitte Corporate Finance LLC (DCF) acted as exclusive financial advisor to Fabric Development, Inc. (FDI) and Textile Products, Inc. (TPI), leading providers of advanced composite materials for the aerospace sector, on their sale to Kordsa Global (Kordsa), a Sabanci Holding subsidiary. The transaction closed on Jul. 13, 2018.
"The Deloitte Corporate Finance team helped us connect with buyers across the globe, resulting in our sale to Kordsa, a real innovator in the advanced material sector," said Peter Shah, president and owner of FDI and TPI.
"This investment will allow Kordsa, within our composite technologies strategy, to now reinforce the wings and fuselage of an aircraft, in addition to our legacy aircraft tire reinforcement capabilities," said Ali Caliskan, chief executive officer of Kordsa Global. "Following the consummation of the acquisition of FDI and TPI companies in Philadelphia and Los Angeles, Kordsa will operate on four continents with its ten plants. As Kordsa, we will continue to reinforce life and take firm steps forward."
"FDI and TPI are important composite materials participants in the aerospace sector. Helping the FDI and TPI founders achieve their goals culminating 40 years of ownership was of paramount importance to our team as we considered potential acquirers from across the globe," said Eric Andreozzi managing director and head of the industrial services group, Deloitte Corporate Finance LLC.
About Fabric Development, Inc. and Textile Products, Inc.
Fabric Development, Inc. and Textile Products, Inc., founded in 1972 and 1976, respectively, are leading providers of specialty fabrics for prepreggers and fabricators of composite structures. The companies cover a wide range of aerospace, defense, and general industrial applications throughout the world. For more information about FDI, visit www.fabricdevelopment.com. For more information about TPI, visit www.textileproducts.com.
About Kordsa Global
Kordsa, founded in 1973 as a subsidiary of Sabanci Holding, is a major global producer of tire, composite and construction reinforcement technologies market. As the worldwide leader of the tire reinforcement technologies market, it carries out production through a vast area from USA to Asia Pacific and supplies its reinforcement technologies to the whole world. With its business processes, all based on R&D and innovation, Kordsa has 479 patent applications. For more information about Kordsa, visit www.kordsa.com.
About Sabanci Holding
Sabanci Holding is the parent company of Sabanci Group, one of Turkey's leading conglomerates, with controlling interest in 11 companies that are listed on the Borsa Istanbul (BIST). Sabanci Group companies operate in 16 countries and market their products in regions across Europe, the Middle East, Asia, North and South America, and North Africa. Founded in 1925, Sabanci is headquartered in Istanbul, Turkey. For more information about Sabanci, visit www.sabanci.com.
About Deloitte Corporate Finance LLC
Deloitte Corporate Finance LLC provides strategic advisory services and M&A advice that help corporate, entrepreneurial, and private equity clients create and act upon opportunities for liquidity, growth and long-term advantage. With an in-depth understanding of the marketplace and access to a global network of investment bankers, we help clients confidently pursue strategic transactions in both domestic and global markets. Deloitte Corporate Finance, together with the Corporate Finance Advisory practices within the Deloitte Touche Tohmatsu Limited network of member firms, include in excess of 1,900 professionals, who work collaboratively across 150 international locations. With our significant experience providing investment banking services across key industries, we are able to offer our clients solutions that help them to achieve their strategic objectives. For more information, visit www.investmentbanking.deloitte.com.
Prior engagement performance is no guarantee of future performance and may not be representative of the experience of other clients. This communication is for informational purposes only and is not intended as an offer or solicitation for the purchase or sale of a security.
Deloitte Corporate Finance LLC, an SEC registered broker-dealer and member of FINRA and SIPC, is an indirect wholly-owned subsidiary of Deloitte Financial Advisory Services LLP and affiliate of Deloitte Transactions and Business Analytics LLP. Investment banking products and services within the United States are offered exclusively through Deloitte Corporate Finance LLC. For more information, visit www.investmentbanking.deloitte.com. Please see www.deloitte.com/us/about for a detailed description of our legal structure. Certain services may not be available to attest clients under the rules and regulations of public accounting.
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