Lydall buys Texel in US$96mn deal

Texel, a division of ADS Inc, produces nonwoven needle punch materials for the geosynthetic, liquid filtration and other industrial markets.

For the fiscal year ended 31 January 2016, Texel had revenues of approximately US$72 million and adjusted EBITDA of US$12 million. The business has three manufacturing operations and one distribution centre located within Quebec province and has approximately 300 employees.

The acquisition strengthens Lydall’s position in filtration and engineered materials.

Texel will join Lydall’s Industrial Filtration operating segment which will be renamed Technical Nonwovens.

Lydall president and CEO Dale Barnhart said: “The acquisition of Texel is highly complementary as it diversifies our filtration and engineered materials business into attractive adjacent markets while leveraging our existing manufacturing capabilities and know-how. Texel has a proven culture of innovation and development, and we are excited for their employees to join the Lydall family. Furthermore, the acquisition provides an important step toward our 2018 long-term vision for profitable growth and establishes Lydall as one of the world’s largest providers of nonwoven materials.”