Pellon: Tampa Bay investors buy Clearwater textile maker

PCP Ventures LLC purchased Pellon on Oct. 1, acquiring the Clearwater-based textile company through a bankruptcy proceeding. The investment group is led by Adam Schoenbaum and Ron Ciganek, who represent family offices with combined assets near $1 billion. The acquisition secures a brand that has produced hidden structural materials for garments and home goods since 1950.

Pellon was originally developed in connection with Freudenberg, a German textile pioneer. Early products replaced stiff canvases and haircloth used to reinforce clothing. Over time, the brand name became a generic term for interfacing among home sewists. The company now manufactures interfacings, stabilizers, quilt batting, fiberfill, and foams.

The Clearwater facility spans 220,000 square feet and employs approximately 95 people. Products reach consumers through retail chains including Walmart, Michaels, and Hobby Lobby. Distributors supply more than 5,000 stores globally. Schoenbaum noted that the industry is valued at $27 billion, indicating room for growth despite the recent financial restructuring.

Immediate priorities involve upgrading the manufacturing site. Schoenbaum described the first phase as significant capital investments in machinery. Amy Berg, the vice president of sales, confirmed that changes are already underway. These include improvements to the needle-punch production line, expanded drop-shipping capabilities, and technology upgrades. Office renovations are also in progress.

Berg has worked at the company for 15 years and observed multiple transitions. She stated that the changes made by Schoenbaum are positive and that the improvements are already noticeable to staff. The company is also expanding its product lines in drapery and lining to serve home decor markets. Berg noted that the company has the most depth and breadth of products in the market.

The purchase price and the specific amount allocated for capital improvements were not disclosed. PCP Ventures identifies itself as an evergreen investor. In an announcement, Schoenbaum said the goal is to build on the trust Pellon has earned rather than alter what customers value. Berg added that the team has a sense of pride in the work and relationships built over decades.