Carpenter to acquire N.C. foam manufacturer
Richmond manufacturer adds NCFI's Consumer Products
Richmond-based polyurethane foam manufacturer Carpenter has signed an agreement to acquire North Carolina-based NCFI Polyurethanes’ Consumer Products division, the company announced Wednesday.
Carpenter declined to disclose financial terms of the transaction. The NCFI division has about 150 employees, who will join Carpenter’s 6,500-plus employees worldwide.
With one location in Mount Airy, North Carolina, the division produces flexible foams used in furniture and mattresses for customers like the aircraft, aerospace, marine and medical industries.
“We are excited to bring the world-class products and people of NCFI to Carpenter,” Carpenter President and CEO Brad Beauchamp said in a statement. “The Mount Airy location and the diverse set of products made therein will complement our current business portfolio.”
In June, Carpenter announced it had completed its $468 million acquisition of Belgium-based Recticel’s engineered foams division, which had about 2,750 employees at 32 locations across 20 countries.
Founded in 1950, Carpenter is a manufacturer and supplier of polyurethane foam, fiber and chemicals used in “comfort cushioning products” such as bedding and carpet padding. The company has more than 70 production locations.