Lowell, MA (PRWEB) November 25, 2016
The family investing team of Wembly Enterprises, led by Sunil and Jay Kumar, has acquired Bradford Industries, Inc., a Lowell, Massachusetts-‐based producer of coated fabrics & textiles. Terms of the sale were not disclosed.
Bradford produces coated fabrics and synthetic leathers for the automotive industry as well as other consumer and industrial markets. “Bradford has tremendous assets-- in manufacturing, technology and, of course, in people.” said Sunil Kumar. “We are pleased to welcome Bradford’s employees to the Wembly family and we are thrilled to add another producer of coated products to our company.” Kumar is the past President and CEO of International Specialty Products (ISP) and of GAF Materials Corporation and he has led Wembly Enterprises through several successful acquisitions.
Jay Kumar, President of Wembly-owned Universal Plastics & Mayfield Plastics will serve as CEO of Bradford. Stephen Olsen, a Wembly Principal and co-investor in the Bradford business, will join Bradford as President.
Dick Satin, the retiring President of Bradford, said, “We’re proud of the business that we’ve built at Bradford and we see a great future for our people with the Wembly organization. The business is poised for growth and we think we’ve found the right buyer to help us in realizing the company’s potential.”
The Capital Corporation, based in Greenville, SC, served as the exclusive advisor to Bradford Industries on the transaction.