D.A. Davidson Acts as Exclusive Financial Advisor to Cha Technologies Group in its Sale of FIT

BOSTON--(BUSINESS WIRE)--D.A. Davidson announced today that it served as the exclusive financial advisor to Cha Technologies Group — a global conglomerate with diversified businesses in property, technology, textiles, financial services, and healthcare — in its sale of Fiber Innovation Technology (“FIT” or “the company”) to Universal Fiber Systems, a global leader with a family of brands specializing in the production of high-quality synthetic fibers.

Paul Colone, Managing Director, commented, “FIT is well known for developing and producing innovative fibers and will benefit from Universal’s commitment to supporting growth through strategic investments. We are proud to have advised Cha Technologies on multiple transactions and to have delivered a strong strategic home for FIT and its dedicated team.”

Based in Johnson City, Tenn., FIT designs and produces specialty synthetic fibers for advanced applications in textiles and nonwovens, with state-of-the-art facilities that include a world-scale production line and a dedicated semi-works facility for product development. The company offers a wide range of capabilities, from developing bicomponent fibers to custom solutions.

Through this partnership, FIT and Universal Fiber Systems will expand their operational footprint to better serve global customers, deliver enhanced products and services, and respond to market needs.

Jacques Boubal, CEO of Cha Technologies Group, remarked, “We are highly appreciative of our long-term relationship with Paul Colone and D.A. Davidson and their key role in the success of our divesture program. Their tenacity and ability to leverage synergy value have driven the successful conclusion of our cross-border transactions.”

D.A. Davidson Investment Banking is a leading full-service investment bank that offers comprehensive financial advisory and capital markets expertise. The group has extensive transaction experience serving middle-market clients worldwide across four industry verticals: Consumer, Diversified Industrials, Financial Institutions, and Technology. Together with its European strategic partner, MCF Corporate Finance, D.A. Davidson originates and executes transatlantic M&A transactions under the common brand of D.A. Davidson MCF International.

About D.A. Davidson

D.A. Davidson Companies is an employee-owned financial services firm offering a range of financial services and advice to individuals, corporations, institutions and municipalities nationwide. Founded in 1935 with corporate headquarters in Great Falls, Montana, and regional headquarters in Denver, Greater Los Angeles, New York, Omaha and Seattle, the company has approximately 1,600 employees and offices in 30 states.

Subsidiaries include: D.A. Davidson & Co., a full-service investment firm providing wealth management, investment banking, equity and fixed income capital markets services, and advice; Davidson Investment Advisors, a professional asset management firm; D.A. Davidson Trust Company, a trust and wealth management company; and Davidson Fixed Income Management, a registered investment advisor providing fixed income portfolio and advisory services.

For more information, visit dadavidson.com.