London’s Ethemba Capital acquires controlling share of Avgol; new owner not yet discussing its plans for big spunmelter
HOUSTON, TEXAS, December 20, 2012-
London-based private equity firm Ethemba Capital acquired control of Avgol Nonwoven Industries on December 6 when it bought nearly 46% of the Israeli company's common stock. Ethemba has not talked publicly about its strategy for the Israeli spunmelter.
The new owner's web site talks about its pattern of working "with the management of investee companies for several years to achieve our shared objectives." It is thought that at least one member of the current senior management team will be leaving at some point in the near future.
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