Snow Peak Capital has exited its investment in Dalco-GFT Nonwovens, selling the specialty fabrics manufacturer to Arvind Advanced Materials Limited, a wholly owned subsidiary of India-based textile conglomerate Arvind Limited.

Snow Peak and Dalco-GFT CEO Joey Duncan will retain minority equity stakes in the business.

Dalco-GFT, headquartered in Conover, North Carolina, produces needle-punched nonwoven fabrics serving customers in the automotive, furniture and bedding, geotextile, and industrial end markets.

The company expanded its manufacturing capacity and customer base during Snow Peak’s ownership, which began in 2022.

Arvind Advanced Materials operates a scaled advanced materials platform with verticals in human protection, composites, and industrial applications.

The acquisition gives the Indian group an entry point into the U.S.

Vice chairman Punit Lalbhai noted that the move brings Arvind into the world’s largest technical textile market with an operationally strong platform.

Duncan will continue to lead Dalco-GFT as CEO, with Matt Sims remaining president.

Duncan said the investments made under Snow Peak’s ownership have positioned the company for continued success.

Snow Peak managing partner Steve Yager described the firm’s approach of partnering with founder-led industrial businesses, while partner Anthony Chirikos added that Arvind is an ideal strategic owner for the next phase.

Lincoln International advised Snow Peak Capital on the transaction.