Management Team Acquires Navis TubeTex
Navis TubeTex President and CEO William J. Motchar and members of the management team of the
Lexington, N.C.-based manufacturer of knit, woven and nonwovens finishing machinery have joined
forces with Charlotte-based CapitalSouth Partners to purchase the company from its previous owner,
a private equity shareholder group.
"This is clearly a signal of my confidence in the future growth of this company," Motchar said. "It is also significant that a highly sophisticated investment group such as CapitalSouth has invested in our company and this industry. The industry has rebounded from the global economic recession. Our state of the art technology combined with our industry leading sales and service network have allowed us to take full advantage of the rebound. We will continue to invest in research and development as well as our technical and process expertise around the world."