Calera Capital Acquires Majority Stake in Carnegie Fabrics

SAN FRANCISCO & BOSTON--()--Calera Capital, a leading middle market private equity firm, announced today that it has acquired a majority stake in Carnegie Fabrics (“Carnegie”), a leading family-owned supplier and innovator of sustainable textiles and wallcoverings for the corporate, healthcare, hospitality, and education building markets. Cliff Goldman, Carnegie’s President, will retain a significant equity interest in the business. Terms of the transaction were not disclosed.

“We are extremely pleased to be partnering with Calera Capital to help us take our business to the next level.”

Mark Williamson, Managing Partner of Calera Capital, said, “Carnegie has a long and successful track record of providing high-performance interior textiles to the architecture and design community and their clients. As a leading independent firm with a proven history of product innovation, there remain significant opportunities for further growth.”

Ethan Thurow, Managing Director of Calera Capital, added, “Cliff Goldman and the Carnegie management team have developed Carnegie into a true industry leader, and we are delighted to support them as they further realize the substantial potential of the Carnegie franchise.”

“We are extremely pleased to be partnering with Calera Capital to help us take our business to the next level.” said Cliff Goldman. “The team at Calera shares our vision for the business and their broad base of experience will help us further differentiate our company and strengthen our industry leading position.”

Carnegie represents Calera’s second investment in Fund V and reinforces Calera’s strength and track record of successfully partnering with strong, founder or family-owned businesses and leading management teams. Mark Williamson and Ethan Thurow led Calera’s investment in Carnegie and will join the Company’s board.

About Carnegie Fabrics
Carnegie is a leading supplier and innovator of sustainable textiles and wallcoverings for the corporate, healthcare, hospitality, and education building markets. Since 1950, the company has established a tradition of firsts, including the development of its own Xorel® fabrics, which provide a durable alternative to PVC materials and Biobased Xorel, the first plant based high performance textile in the world. Carnegie has built a reputation for its ongoing and comprehensive commitment to the environment through all parts of its business cycle. For more information, please visit https://carnegiefabrics.com.

About Calera Capital
Founded in 1991, Calera Capital is a private investment firm which has invested over $3.0 billion. With offices in San Francisco and Boston, Calera focuses on partnering with founders and management teams to drive significant value creation in their businesses, primarily in two industry sectors: Business Services and Specialty Industrials. Calera Capital makes substantial equity investments in middle-market businesses and works closely in support of management to build long-term sustainable value through the implementation of strategic and operating initiatives. For more information, please visit www.caleracapital.com.

Contacts

Prosek Partners
Mickey Mandelbaum
Maya Pogoda
(310) 785-0810
mmandelbaum@prosek.com
mpogoda@prosek.com

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