All technology and market rights of Ira L. Griffin Sons, Inc. (“ILGS”), a leading manufacturer of innovative warp preparation machinery for the global textile market, have been acquired by Karl Mayer Textile Maschinenfabrik GmbH. Founded in 1948 and based in Charlotte, North Carolina, ILSG equipment has been an essential element in the manufacturing process of numerous textiles for over 50 years. ILGS warp preparation product lines include sizing machinery and denim preparation machinery such as ball warpers and long chain beamers. The Company has a large worldwide installed base of machines.

Karl Mayer is the world’s leading manufacturer of warp knitting machinery, warp preparation systems and stitch bonding machinery.

Terms of the transaction were not disclosed. Philpott Ball & Werner, Inc. served as advisor to ILGS.