Share this on

Investor acquires FR specialist Basofil

McKinnon to retire, Land to be consultant

David Perry -- Furniture Today, January 19, 2007

HICKORY, N.C. — An investor in Basofil Fibers has acquired 100% ownership of the company, bringing in a new management team and relocating the headquarters.

Basofil is a supplier of fire-resistant materials to the home furnishings industry. The company was an early supporter of industry-wide adoption of FR bedding protection.

Terms of the sale were not disclosed. The new owner is the Sumlin Group, based here, which describes itself as a closely held investment fund that takes ownership positions in companies in various industries with the objective of adding and optimizing value.

With the change, Bob McKinnon, formerly CEO of Basofil Fibers, has elected to retire and Frank Land, formerly senior vice president, has become a consultant, according to Bogdan Ewendt, president and CEO of the Sumlin Group.

He said Basofil will now be based at the manufacturing plant in Enka, N.C., just outside Asheville. The company had recently relocated from Charlotte to Hickory.

New to the company are Rodney Gibson as executive vice president of operations and Richard Krapfel as executive vice president of sales and marketing.

“Sumlin Group brings a full complement of expertise to take Basofil Fibers to a higher level,” Ewendt said. “We will focus on Basofil Fibers’ core business of selling melamine fiber and grow this business.”

He said Sumlin has assumed 100% ownership of Basofil Fibers LLC and its affiliates, including Basofil Technologies LLC, McKinnon-Land-Moran LLC, and McKinnon-Land LLC.

David Clark, Sumlin’s principal, has more than 25 years of experience in the financial, mergers and acquisitions, and capital markets. Ewendt manages the investments on a day-to-day basis.

Basofil has been a Kathy Ireland Home brand partner.

Share this on

Related Content

• Topics
• Author
• Most Popular Pages

Investor buys Basofil

Feb 11, 2007

Also by this author

• Ashley to open 50 sleep shops this year, first of 'several thousand'

• New No. 1: Serta dethrones Sealy, ushering in era of opportunity

• Mattress Metrics: Warranty worries

• Connecticut forgoes mattress legislation

• Serta's Counting Sheep commit larceny in new ad

Also by David Perry

Most Viewed Articles

• Merinos Home Furnishings opening display room, Boyles addition

• Ernest Warsaw, founder of Sheffield Corp., dies at 91

• ‘Mega vessels' likely to boost capacity, stabilize freight rates

• HOM Furniture adds flooring to six Twin Cities stores

• Dan Masters joins Furniture Brands as VP, business development

Sponsored Links

• Resource Center
• Browse Categories
• Browse Companies

Featured Company

• FurnitureCore.com

  

  FurnitureCore.com is a dynamic web application aimed at the furniture industry. Retailers and manufacturers alike will find our deep reserve of tools to be exactly what their furniture business needs.www.furniturecore.com... more

---

Related Resources

• Choosing a Web Site Developer
• Web Based Intelligence Gathering
• Shopatron: Bicycles & eCommerce
• Design, Develop, Deliver: The Three D's to Digitally...