ATLANTA, May 8, 2023 /PRNewswire/ — Crown Capital (Crown), an Atlanta-based private investment firm, announces the acquisition of Ace-Tex Enterprises, Inc, a leading manufacturer and distributor of wiping cloths and towels.
“Ace-Tex fits our culture of continuous innovation. They have revolutionized the wiping cloth industry with products that meet the needs of businesses across all sectors,” says Crown CEO Christopher Graham. “We are excited to partner with the Ace-Tex Team and welcome them to Crown’s portfolio of companies.”
Since its inception in 1946, Ace-Tex has significantly contributed to the wiping cloth industry. Fueled by a mission to offer clients the highest quality service, the Company has expanded its product line by developing specialized wiping cloths. With operations in both the U.S. and Canada, they have developed new products such as lint-free wipers, static-reducing wipers, and alcohol wipers to meet the growing demand of their global customer base.
“Ace-Tex has been an independent family-owned business for the past 77 years and now extends that heritage by joining the Crown family of companies,” says Daniel Chupinsky, President of Ace-Tex Enterprises. “Crown’s patient investment philosophy, synergistic opportunities amongst portfolio companies, and the human and capital resources present to support growth potential are all reasons Crown is the perfect partner to build on our past success.”
Crown Capital is a private investment firm focused on investing in a diverse range of leading lower middle-market companies. Crown collaborates with existing management teams in each portfolio company to grow market-leading businesses. It is with the belief that investing in private companies catalyzes positive change, Crown strives to preserve and create jobs that provide opportunity and endure for generations.
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SOURCE Crown Capital