Bradford Industries Inc., a maker of coated fabrics and textiles, is now part of Wembly Enterprises LLC, an entity led by Sunil and Jay Kumar. Terms of the deal were not disclosed.
Bradford is active in the automotive industry, supplying automotive airbag fabrics, inflatable side rollover curtains and industrial textiles. It also makes synthetic leathers.
Sunil Kumar is the past president and CEO of International Specialty Products and GAF Materials Corp and has led Wembly Enterprises through several acquisitions.
Wembly also owns thermoformers Universal Plastics Corp. of Holyoke, Mass., and Mayfield Plastics Inc. of Sutton, Mass., as well as Nylon Corp. of America of Manchester, N.H., and Shawsheen Coating and Converting of Andover, Mass.
Jay Kumar, the president of Universal Plastics and Mayfield Plastics, will serve as CEO of Bradford, while Stephen Olsen, a Wembly principal and co-investor in Bradford, will serve as the Bradford president. Dick Satin is retiring as president of Bradford.
The Capital Corp., based in Greenville, S.C., served as the exclusive adviser to Bradford Industries for the transaction.