Kingswood Capital Management acquired Daramic, LLC, the firm announced May 4.

Financial terms were not disclosed.

Daramic, headquartered in Charlotte, North Carolina, supplies polyethylene and phenolic resin-based battery separators to the lead battery industry.

The company, founded more than 90 years ago, operates seven manufacturing facilities and seven sales offices across its global footprint, along with three Centers of Innovation in Owensboro, Kentucky; Selestat, France; and Gujarat, India.

Los Angeles-based Kingswood Capital Management focuses on middle-market companies and stated that Daramic will continue as a standalone entity.

Platinum Credit Opportunities Funds and Ares Commercial Finance provided the debt financing to support the acquisition.