Private investment firm to buy Honeywell Performance Fibers

RICHMOND, Va. (Nov. 9)–Honeywell Specialty Materials has agreed to sell its Performance Fibers business, a maker of high tenacity polyester yarn for tyre and rubber products reinforcement, to a Florida private investment firm specialising in leveraged buyouts and turnarounds of market-leading companies.

Under the new ownership, the business will continue to operate as Performance Fibers Inc., according to Boca Raton, Florida-based Sun Capital Partners Inc., the purchaser. Terms of the deal were not disclosed.

“We expect this to be a seamless transition for customers whom we will…

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