Chicago-based private equity firm Wind Point Advisors LLC acquired a controlling stake in consumer products manufacturer U.S. Nonwovens Corp. for an undisclosed amount, Newsday reported.
The Mehdizadeh family, founders of the acquired group, will own a minority stake in the business that supplies consumer goods such as baby wipes, acne and hemorrhoid treatments, cosmetics, detergent, sponges and adult incontinence remedies to various clients including Procter & Gamble, Johnson & Johnson, Unilever and Walmart. Based in Brentwood, N.Y., the company has nine factories, sales offices and distribution centers globally.
U.S. Nonwovens CEO Shervin Zade and COO Rody Mehdizadeh will remain part of the new ownership group, the report added, citing a letter from Wind Point managing director David Stott.
