Kingswood Capital Management has acquired Daramic, a global leader in high-performance polyethylene battery separators, for an undisclosed amount. This transaction marks a significant change of ownership for Daramic, which was previously part of the Asahi Kasei Group. Daramic is recognized for its specialized role in developing and supplying critical components for the lead acid battery market.
For over 90 years, Charlotte, North Carolina-headquartered Daramic has innovated in battery separator technology. The company operates seven manufacturing facilities and seven sales offices across China, France, Germany, India, Thailand, and other locations, ensuring a global supply chain. Daramic also maintains three Centers of Innovation in Kentucky, France, and India, dedicated to advanced product development and material analysis for automotive, industrial, and specialty battery applications.
Kingswood Capital Management, an investment firm focused on acquiring and optimizing businesses, is expected to leverage Daramic's established market leadership and extensive global infrastructure. The acquisition underscores the strategic value of Daramic's specialized expertise and its foundational role in the energy storage sector. This move positions Daramic as an independent entity under Kingswood's ownership, allowing for dedicated focus on its core business.
The acquisition is anticipated to foster continuity and potential growth for Daramic. Under Kingswood's stewardship, Daramic is expected to continue its commitment to innovation and maintaining its global supply network for lead acid battery separators. The combined entity will aim to further develop advanced separator technologies and service its worldwide customer base, reinforcing its position in the evolving battery industry.