PORTSMOUTH, R.I. — A textile converter and provider of technical fabrics to multiple industries with headquarters in Portsmouth has acquired a 99-year-old textile manufacturer in Bedford, Mass.
Brand & Oppenheimer Co. Inc., a textile converter with its main offices at Clock Tower Square, has acquired Cutting Edge TexStyles, a 99-year-old manufacturer of bias binding, trims and textiles based in Bedford, Mass.
The new business will continue to operate in its existing location with its current staff, including former CEO Joe Goldman, who will now serve as Vice President of the Cutting Edge TexStyles Sales Division of B&O, alongside the company’s Performance Textiles and 1947 Sales Divisions.
Cutting Edge TexStyles has a longstanding reputation as a third-generation manufacturer of “narrow” fabrics in bias bindings and trims.
“We are very pleased to welcome Joe and his team to Brand & Oppenheimer. We view the addition of Cutting Edge as synergistic and a means to diversify into the narrow textile sector,” stated Edward Ricci, B&O CEO.
“With the support of our owners, Praesidian Capital, we will be able to explore similar acquisitions in the future that will allow B&O to expand its capabilities within the overall textile industry and thereby provide increasingly more robust products and services to our customers.”
According to Goldman, “we see new opportunities by joining forces with B&O. We are both century-old businesses that continue to thrive by constantly meeting customer demands with quality materials. This will be a seamless transition for our customers and employees. We look forward to offering the B&O product line to Cutting Edge customers.”
The Founding Partner of Praesidian Capital, Jason Drattell, noted that “we are encouraged by the progress that Brand & Oppenheimer has made in the past two years under the management of Ed Ricci, Ben Galpen and Bryan Boulis. We look forward to seeing more acquisition opportunities like Cutting Edge that support the Company’s growth strategy.”
Brand & Oppenheimer Company, Inc. is a leading textile converter based in Portsmouth. The company specializes in providing textile solutions for such market segments as the military, tactical, commercial, apparel, industrial, and specialty end items.