Clearwater textile maker with 95 employees gets new owner

A Tampa Bay investment group has acquired Clearwater textile manufacturer Pellon through the bankruptcy process, the group announced, with plans to upgrade its factory and build new markets for a brand already sold at Walmart, Michaels and Hobby Lobby.

PCP Ventures LLC completed the acquisition Oct. 1 and announced the deal Nov. 3, according to a statement. Pellon employs about 95 people and manufactures specialty textile materials at a 220,000-square-foot Clearwater facility, the announcement says.

The purchase price was not disclosed. A company spokesperson says the privately held business also does not disclose revenue.

Pellon makes materials that give clothing, quilts, furniture and craft projects structure, cushioning and support. Its products include interfacing — the material used between fabric layers to reinforce features such as collars and waistbands — along with quilt batting, fiberfill, stabilizers and craft foams.

The buyers plan to invest in the Clearwater plant, equipment, operating systems and workforce to improve production, product quality and delivery, the announcement says. 

“This is also a great story for Tampa Bay,” says PCP Ventures co-founder Adam Schoenbaum in the release. “Pellon has a long history in the region, and we're committed to our long-term growth here.”

PCP Ventures is a Tampa Bay-based investment group led by Schoenbaum and Ron Ciganek that represents family offices with combined assets of just under $1 billion, the release says. Its partners’ backgrounds include manufacturing, real estate, distribution, finance and consumer brands, as well as such businesses as Kesin Pharma and Dress the Population.

PCP Ventures describes itself as a long-term investor in Pellon using permanent capital, without a fund deadline that would require it to sell its holdings.

The transaction follows financial distress under Pellon’s previous operator. PCP Group LLC, which Pellon’s website identifies as its U.S. and Canadian distributor, filed for Chapter 11 protection June 10, 2024 in the U.S. Bankruptcy Court for the Eastern District of New York, according to a docket reproduced by bankruptcy information service Inforuptcy. The docket lists confirmation of a plan Sept. 15, 2026. 

Pellon’s history stretches back to the introduction of its interfacing products in the United States in 1950. According to the company’s website, the technology grew from work by Freudenberg researcher Carl Nottebohm in Germany, who developed a method for making textiles directly from fibers rather than weaving them.

That process helped produce lightweight alternatives to the traditional materials used to give garments shape. Over time, Pellon expanded into products for quilting, embroidery, home décor and other uses, its website says.

Today, the company’s distribution network includes major U.S. retailers and distributors reaching more than 5,000 additional stores worldwide, according to the release.

The new owners say existing customer, distributor and supplier relationships will continue without disruption.

Amy Berg, Pellon’s vice president of sales and a 15-year employee, says the investment offers reassurance to a workforce that includes longtime employees.

“We have team members who have been here for decades, and there’s a real sense of pride in what we do and the relationships we’ve built,” Berg says in the release. “We’re excited to have new owners who value our people and are committed to investing in our future.”