Capabilities

Sale to Daiichi Kasei Co.

Ultrafabrics LLC
March 2017

Our attorneys advised Ultrafabrics LLC, a leading provider of high-performance polyurethane fabrics, on the sale of 84.21 percent of its equity to Daiichi Kasei Co. Ltd. (DKK), a Japan-based polyurethane manufacturer listed on the Tokyo Stock Exchange. Under the terms of the deal, which was announced January 23, 2017, and closed in early March, DKK bought the remaining 84.21 percent of Ultrafabrics not previously owned by it for approximately $126 million.

Founded in 1999 and based in Tarrytown, New York, Ultrafabrics is a pioneer in high-performance polyurethane fabrics. The company has a track record of first-to-market innovations driven by state-of-the-art R&D capabilities to manufacture and distribute superior quality products for its original equipment manufacturer (OEM) customers. In addition to the automotive industry, Ultrafabrics’ end-markets include furniture, aviation, healthcare, and marine uses.

The majority owners of Ultrafabrics reinvested a portion of their proceeds in convertible preferred stock of DKK and will be joining its board of directors.

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