October 20, 2004—Thomas Industries, a newly formed company sponsored by JD Ford Holdings Co., LLC, together with co-investors lead by FR Private Equities, LLC, and Mr. Jerry Thomas, CEO of the Mattel Group have completed the acquisition of the assets of Superior Yarn Technologies, LLC and Mattel Carpet & Rug, Inc.
Headquartered in Dalton, Georgia, the “Carpet Capital of the World,” Superior Yarn Technologies is a leading manufacturer of solution dyed nylon, and other synthetic yarns, as well as staple fibers and geotextiles. Superior currently has the ability to annually produce over 70 million pounds of solution dyed yarn, which is a primary component in the tufting of carpets and rugs.
Mattel Carpet & Rug is a leading manufacturer of broadloom carpet for a variety of niche markets, including automotive aftermarket products, walk-off mats and multi-family housing. Mattel also develops innovative products based on its branded solution dyed yarns.
The Templeton Carpet Mills division of Mattel, is a supplier of carpet to the hospitality industry.
The formation of Thomas Industries is expected to streamline the operations of Superior and Mattel, which have historically operated as separate companies with shared ownership.
Mr. Thomas also commented that the substantial experience and financial resources of JD Ford and FR Private Equities will help the business maintain its rapid growth and lead to even greater opportunities for the company and its nearly 700 employees.
Thomas Industries will operate Superior, Mattel and Templeton as independent divisions, and there will be few changes in day to day operations or customer service.
