PITTSBURGH, PA. Stonewood Capital Management, Inc. is pleased to announce the purchase of the composites business of Superior Fibers, LLC by Stonewood’s newly formed affiliate Superior Composites Co., LLC.
Superior Composites, headquartered in Vanceburg, KY, is a worldwide leader in the manufacture of fiberglass composite mats and veils used in construction, automotive, electrical, boat building and other applications.
Peter Muth, Senior Vice President of Stonewood Capital, indicated that “Superior Composites adds significant value to its customers and is a go-to supplier in the markets that it serves. We believe that Superior Composites enhances Stonewood’s position in composites manufacturing by offering important synergies with our existing investment in Huntingdon Fiberglass Products, and we expect that the customers of both companies will see benefits from the acquisition.”
First National Bank of Pennsylvania provided the senior financing for the transaction, and ReedSmith LLC advised Stonewood on the acquisition.