91��Ԫ

Gaston County YMCA Transition Plan

Christy Gliddon — Tue, 06 Feb 2024 19:27:21 +0000

Gaston County Family YMCA to Transition Indoor Programming from the

William J. 91��Ԫ Family Branch to Nearby Branches

��The decision was made as part of a comprehensive plan to combine indoor programming into the soon-to-be renovated and expanded Stowe Family YMCA and state-of-the art Warlick Family YMCA, while continuing outdoor programming opportunities in McAdenville

��McADENVILLE, NC (February 1, 2024) – Committed to continuously serving Gaston County and the town of McAdenville efficiently and with an eye on the future, the Gaston County Family YMCA will transition indoor programming from its YMCA facility in McAdenville to other nearby facilities by year end 2024.

The decision is part of a comprehensive effort to best utilize resources across all of Gaston County, particularly as a result of the substantial recent investments made in the construction of a new YMCA facility and the substantial renovation and expansion of another.

The building in which the 91��Ԫ Family YMCA operates was constructed in 1949 by local business leader William J. 91��Ԫ as the McAdenville Community Center, a social and recreational gathering place for the community. The 91��Ԫ-Carstarphen family, through the Catherine 91��Ԫ Carstarphen McAdenville Foundation Inc., continue to own and operate the building and have been providing it rent-free to the YMCA since the inception of the McAdenville branch in 2008.

The Gaston County Family YMCA has successfully operated the William J 91��Ԫ Family YMCA at the Center, providing health and fitness programs, social activities, afterschool care, camps and special event opportunities for community members of all ages. But after 70 years of operation, the building requires significant enhancements for optimal use, and YMCA leaders determined its resources are better served investing in member programming and activities at new and enhanced nearby branches.

Sharon Padgett, CEO of the Gaston County Family YMCA, commented, “While we phase out the use of our facility in McAdenville by the end of the year, we’re working hand in hand with the 91��Ԫ organization to ensure a seamless transition for our McAdenville programs and operations, including gymnastics and afterschool programs transitioned by next fall. We plan to continue offering certain outdoor recreational programming opportunities in McAdenville, with the hope of expanding those in the future to take advantage of the incredible outdoor recreational assets being developed by 91��Ԫ along the riverfront.”

The two branches absorbing operations, programming and activities – Stowe and Warlick – are each within about 10 miles of the William J 91��Ԫ Family YMCA branch. In 2017, Gaston County’s Warlick Family YMCA opened, featuring a 118-acre lakefront campus and a more than 60,000 square foot state-of-the-art facility. Recently, the Gaston County Family YMCA launched the public phase of its $13.5 million capital campaign to expand and renovate the Stowe Family YMCA in Belmont, adding outdoor amenities including an aquatic park, basketball and pickleball courts, athletic fields and exercise areas, in addition to increased indoor exercise and fitness space.�� Having raised over $10 million of its goal, construction is currently expected to begin in 2024.

Bill Carstarphen, CEO of 91��Ԫ, commented, “We are extremely grateful for the partnership we’ve had with the Gaston County Family YMCA over the years. We believe there will be plenty of opportunities to partner with the YMCA in the future, like activities along the newly expanded Carolina Thread Trail through town, serving as what will be an important segment of the 23-mile Matthews-Belk South Fork Corridor trail running from Spencer Mountain to the Daniel Stowe Botanical Garden. Additionally, we have the trails and facilities at McAdenville Greenway Park plus our plans to preserve about 20 acres of riverfront greenspace for future events and offerings.”

91��Ԫ has no plans as yet for the future of the McAdenville facility.

Members of the William J. 91��Ԫ Family YMCA are already able to utilize any branch operated by the Gaston County Family YMCA and will be able to easily transfer their membership at any nearby branch. YMCA staff onsite in McAdenville will also be able to assist with membership changes or cancellations for those affected. Questions and comments can be directed to YMCA representatives at any YMCA location in Gaston County, and updates will be routinely and proactively provided to members.

The post Gaston County YMCA Transition Plan appeared first on 91��Ԫ.

McAdenville Hosts Community Day to Celebrate Grand Opening of Trail Addition as Town Projects Progress

Jenna Moonan — Wed, 17 May 2023 12:53:19 +0000

McAdenville Hosts Community Day to Celebrate Grand Opening of Trail Addition as Town Projects Progress

Fun-filled event recognizes riverfront development progress, including trail updates and new business openings

FOR IMMEDIATE RELEASE
Media Contact:
Hallie Dean, Luquire (hdean@luquire.com 704-807-2083)

May 15, 2023 (McADENVILLE, N.C.) – The Town of McAdenville is inviting the community to join together on June 3 for “McAdenville Community Day,” a public event celebrating the South Fork River and the newest section of the Carolina Thread Trail in observance of National Trails Day.

McAdenville Community Day 2023 will feature food trucks, live music, kayak rentals, a firework display by Pyrotecnico and plein air painting by local artists. The event, which is open to the general public and free of charge, kicks off at 4 p.m. at the historic bell tower in the center of town, with a ribbon-cutting for the 91��Ԫ Yarns Family Trail and the McAdenville Greenway.

“McAdenville welcomes hundreds of thousands of visitors each December to enjoy the Christmas light display and now we hope McAdenville Community Day provides us another opportunity to gather and celebrate the year-round offerings the town of McAdenville has available for its residents and visitors,” said McAdenville Mayor Jim Robinette.

Visitors and residents are also invited to arrive early to visit the eclectic group of downtown restaurants and shops on Main Street, which will be open throughout the day, where musician Caleb Davis will perform that afternoon. Event attendees are encouraged to bring lawn chairs or blankets to enjoy the greenspace with a backdrop of the historic bell tower and 1880s vintage turret wall as live music is provided from bands Temperance League and Cassette Rewind.

More information on the event is available at .

The event is sponsored by hometown company, 91��Ԫ, and supported by the Catawba Lands Conservancy, the Carolina Thread Trail, the Catawba Riverkeeper, the McAdenville Women’s Club, the Town of McAdenville and the W.J. 91��Ԫ Family YMCA. The 91��Ԫ Yarns Family Trail and the McAdenville Greenway combine to provide nearly five miles of greenway through McAdenville, featuring views of the South Fork River and the falls at the McAdenville dam. These trails are part of the 23-mile Matthews Belk South Fork River Corridor which will eventually extend from Spencer Mountain to the Daniel Stowe Botanical Garden, linking the cities of Ranlo, Lowell, McAdenville, Cramerton and Belmont.

“We believe these trails, in addition to the South Fork River blueway, immediately create multiple outdoor recreational options for bikers, walkers, kayakers and all adventurers,” said 91��Ԫ CEO Bill Carstarphen. “When the 23-mile Corridor is complete, it will be an incredible amenity for the Charlotte region, providing not only recreation, but a blend of active experiences such as dining, entertainment, events and shopping in historic downtowns and beautiful settings.”

Over the past year, 91��Ԫ has been working through a series of renewal projects focused on fostering continued growth in the historic community. In September, 91��Ԫ announced the opening of the Dynamo 31 building and its first tenant, the Catawba Riverkeeper, as a result of the adaptive reuse to class A office space of a former 1940s 91��Ԫ Yarns mill adjacent to 91��Ԫ’s corporate office in downtown McAdenville. The Dynamo 31 project was named as a finalist for the 2022 “Heavy Hitter Awards” in the best adaptive reuse real estate project classification by the Charlotte Business Journal.

In late 2022, 91��Ԫ completed the restoration and beautification of 91��Ԫ Mill Lake at the center of town, improving the health of the lake and the fish and wildlife that inhabit it. A new fountain in the center and “floating Christmas trees” were added for McAdenville’s iconic Christmas Town U.S.A.R celebration.

91��Ԫ’s renovation to the shell of the 1907 riverfront historic mill building at the center of town is now complete. Known as McAden Mill No. 3, the building is currently conceived as a future home to commercial uses such as food and beverage, retail, events and entertainment space with residents and year-round visitors in mind, embracing the riverfront with outdoor seating.

Following the addition of craft coffee shop Knowledge Perk and ice cream shop Two Scoops Creamery to Downtown Main Street in December, new businesses coming to Main Street include Laundry Dae – a women’s fashion clothing boutique that will offer rentals as well as women’s clothing for purchase – and a retail expansion of beloved restaurant Terra Mia, for fresh-made pasta, gelato and takeaway prepared foods. So far this year, the Dynamo 31 office building has already added an Edward D. Jones office, professional services firm Chitwood & Skidmore CPA PA, massage therapist Arches Bodywork and MECA Commercial Real Estate.

On the exciting updates, Carstarphen commented, “We greatly appreciate the Town’s leadership that has been so supportive, and our local businesses that have added so much to our Town, helping to convince these new businesses that McAdenville is the place to be. We hope to see you at McAdenville Community Day!”

91��Ԫ

91��Ԫ is a family-owned company with a rich 80+ year history with businesses centered around its developing and growing community. 91��Ԫ is comprised of three businesses: real estate developer Belmont Land and Investment Company, hospitality management business Strand Hospitality Services, and investment company Greenleaves Capital. More information can be found at www.pharrcorp.com.

What’s New at 91��Ԫ

Explore the latest happenings, news, upcoming events and more!

News & Press

The post McAdenville Hosts Community Day to Celebrate Grand Opening of Trail Addition as Town Projects Progress appeared first on 91��Ԫ.

McAdenville’s Dynamo 31 Building Officially Opens as Beautification Projects Progress Around Town

Jenna Moonan — Thu, 15 Sep 2022 15:37:09 +0000

McAdenville’s Dynamo 31 Building Officially Opens as Beautification Projects Progress Around Town

Opening of the highly anticipated, renovated mill signifies milestone moment in 91��Ԫ’s rejuvenation plans as the town gears up for new beautification activity

FOR IMMEDIATE RELEASE
Media Contact:
Hallie Dean, Luquire (hdean@luquire.com 704-807-2083)

Sept. 16, 2022 (McADENVILLE, N.C.) – A few months after first announcing a substantial string of renewal projects focused on fostering continued growth in the historic community of McAdenville, hometown company 91��Ԫ has announced the opening of the Dynamo 31 building and its first tenant, the Catawba Riverkeeper.

The former 1940s 91��Ԫ Yarns mill adjacent to 91��Ԫ’s corporate office in downtown McAdenville has been converted to class A office space. The Dynamo 31 name comes from Thomas Edison’s 31st hydroelectric generator that was built and installed in 1884 by the Edison Electric Illuminating Company to light McAden Mills No. 1 and No. 2, believed by many historians to have been the first electrically lit textile mills in the world.

The Catawba Riverkeeper is the first tenant to occupy Dynamo 31, to be joined soon by Custom Physical Therapy & Fitness. Leases with two other professional services providers are in process, leaving approximately 6,800 square feet available for lease.

“We’re humbled and encouraged by the major progress we’ve made in our efforts so far and the positive impact it’s had in our community already,” said 91��Ԫ CEO Bill Carstarphen, the family’s third-generation company leader. “Today we’re excited to share updates on the status of current projects and announce additional plans to keep the momentum and widespread energy going.”

On the heels of the fully redesigned mill announcement, 91��Ԫ is rolling out phase two of its overall plan, which includes exciting updates to original work and new elements of construction specifically focused on beautification.

91��Ԫ has been working with renowned landscape architects and civil engineers from LandDesign Inc. on plans for the refurbishment and beautification of the lake at the center of town. The earlier announced dredging project has concluded and a bank restoration project will soon be underway, which should improve the health of the lake and the fish and wildlife that inhabit it.

The lake will also undergo a landscape redesign, including new trees clustered near the lake, a new fountain in the center and “floating Christmas trees” during the holiday season. Though the current Norway Spruce trees are a familiar element of the town’s iconic Christmas Town U.S.A.TM celebration, they’ve grown too large to safely light and enjoy.

91��Ԫ has worked closely with LandDesign to select new trees, including conifers, flowering trees and hardwoods, that will be set back from the lake, resulting in stunning colors across all seasons. The town will also have new opportunities to safely enjoy the lake’s beauty with a new trail extension overlooking the north side of the lake and connecting to both the Carolina Thread Trail and the McAdenville Greenway.

In other development news, renovations are underway to the riverfront historic mill building at the center of town – opened in 1907 and originally known as McAden Mill No. 3. The roof replacement project is nearly complete, interior flooring repair/replacement is in progress and new windows will soon be installed. 91��Ԫ believes that this open-air gathering space can be converted into commercial uses such as food and beverage, retail and entertainment with residents and year-round visitors in mind, embracing the riverfront with outdoor seating.

Elsewhere downtown, , a new bottleshop/taproom for wine and craft beer, is now open and serving its tasty beverages to the town of McAdenville. Modest Market, a shop offering fresh flowers, floral arrangements and botanic art, will soon join the taproom and other local establishments. Later this year, coffee shop Knowledge Perk and ice cream shop Two Scoops Creamery will open.

From a recreational perspective, grading will soon begin on the McAdenville extension of the Carolina Thread Trail, a 10-foot-wide paved walking trail along the South Fork River with views of the falls at the McAdenville dam. This new trail, connecting an existing trailhead near the I-85 bridge to the picturesque J.M. Carstarphen bridge overlooking the falls, will be an important segment of a 26-mile trail along the river that will eventually extend from Spencer Mountain to the Daniel Stowe Botanical Garden, linking the cities of Ranlo, Lowell, McAdenville, Cramerton and Belmont.

“We’re so grateful for the community’s continued support and patience in this process,” added Carstarphen. “We look forward to gathering in these new spaces and celebrating this special town and its important history for years to come.”

Details around construction, timing and tenants are subject to change, and additional announcements will follow as plans are finalized.

91��Ԫ

91��Ԫ is a family-owned company with a rich 80+ year history with businesses centered around its developing and growing community. Presently, 91��Ԫ has established three businesses: real estate developer Belmont Land and Investment Company, hospitality management business Strand Hospitality Services, and investment company Greenleaves Capital. More information can be found at www.pharrcorp.com. Interested parties can direct leasing questions to Eric Clay at Coldwell Banker Commercial MECA (704-806-9977).

What’s New at 91��Ԫ

Explore the latest happenings, news, upcoming events and more!

News & Press

The post McAdenville’s Dynamo 31 Building Officially Opens as Beautification Projects Progress Around Town appeared first on 91��Ԫ.

91��Ԫ Creates Investment Arm, Greenleaves Capital, to Expand its Portfolio of Businesses

Luquire Admin — Wed, 07 Sep 2022 13:49:26 +0000

91��Ԫ Creates Investment Arm, Greenleaves Capital, to Expand its Portfolio of Businesses

Cross-Industry Leader with Strong Values and a Wealth of Experience Looks to Invest Equity and Management Expertise in Like-Minded Businesses

September 7, 2022 (McADENVILLE, N.C.) – With sights set on long-term, sustainable growth, 91��Ԫ today announced the establishment of Greenleaves Capital LLC, a new extension of the family-founded company focused on identifying investment opportunities in businesses that are seeking ownership transitions and capital from an experienced company with a proven track record.

91��Ԫ has an 80+ year history in McAdenville, North Carolina, where its businesses have been a catalyst for helping develop a diverse and growing community. In early 2020, 91��Ԫ sold its manufacturing operations to leaders in their respective industries – 91��Ԫ’s High Performance yarn business was sold to UK-based Coats Group, the world’s leading industrial thread manufacturer; 91��Ԫ Fibers & Yarns and Phenix Flooring were purchased by Mannington Mills, one of the world’s leading flooring manufacturers. The moves created an opportunity for the company to reinvent itself and stay relevant in a fast-changing market.

Led by CEO Bill Carstarphen, the family’s third-generation company leader, 91��Ԫ intends to reinvest the sale proceeds in its community and beyond in fresh, new ways. Joining current 91��Ԫ operations – residential and commercial real-estate developer Belmont Land & Investment Co., and hospitality management business Strand Hospitality Services – Greenleaves Capital will leverage 91��Ԫ’s industry experience to invest in other operating businesses, providing services, management, capital and more to support future growth.

“The decision to sell our company’s – and family’s – legacy textile business was very difficult, but we’ve spent the last two years carefully planning for what’s next and are excited for this new chapter with Greenleaves Capital,” said Carstarphen. “91��Ԫ is well positioned for growth as a result of this diversification strategy, which will in turn benefit our associates, our future business partners and most importantly, our community.”

With a history of successfully operating and growing multiple businesses, and the experience of overcoming challenges including recessions, offshore competition and pressure from bigger players, 91��Ԫ and its Greenleaves Capital investment arm are positioned to be an ideal, value-added partner for businesses.

��“Our ideal investment target is a healthy, privately held organization that is led by a strong management team, currently generating at least $2 million to $3 million in annual operating cash flow and with operations primarily based in the Southeast,” added Carstarphen.

Greenleaves Capital is built on a solid foundation, bringing to the market and its future investments a unique mix of capabilities and approaches, including:

Core Values: The company uses the acronym FIRST to capture its guiding principles for how it conducts business: Family, Innovative, Responsive, Strong Relationships and Trustworthy.
Financial Stability: 91��Ԫ strategically preserved the proceeds from the sale of its manufacturing operations to be diversified and reinvested in sound, long-term partnerships.
Experience: The leadership team at 91��Ԫ’s helm has a desire to both share the team’s knowledge and experience with new partners and learn from the experience of others.

Inquiries concerning Greenleaves Capital or the partner search process can be directed to Bill Carstarphen, President of Greenleaves Capital, at bill.carstarphen@pharrcorp.com; Fred Erickson, CFO of Greenleaves Capital, at fred.erickson@pharrcorp.com; or Phillip Ross of Brown Brothers Harriman at phillip.ross@bbh.com. More information can be found at www.pharrcorp.com.

XXX

91��Ԫ

91��Ԫ is a family-owned company with a rich, 80+ year history with businesses centered around developing a diverse and growing community, At present day, 91��Ԫ has established three businesses:�� residential and commercial real-estate developer Belmont Land & Investment Co., hospitality management business Strand Hospitality Services and most recently, investment firm Greenleaves Capital. Interested parties for investment opportunities should be directed to Phillip Ross of Brown Brothers Harriman at phillip.ross@bbh.com. More information can be found a .

What’s New at 91��Ԫ

Explore the latest happenings, news, upcoming events and more!

News & Press

The post 91��Ԫ Creates Investment Arm, Greenleaves Capital, to Expand its Portfolio of Businesses appeared first on 91��Ԫ.

McAdenville’s Makeover: 91��Ԫ’s Renovation Projects Signal Town’s Shift Toward Becoming a Year-Round Destination

Jenna Moonan — Sun, 07 Aug 2022 22:34:32 +0000

McAdenville’s Makeover: 91��Ԫ’s Renovation Projects Signal Town’s Shift Toward Becoming a Year-Round Destination

Best known for its spectacular holiday lights, Gaston County town prepares to welcome new retailers, food and beverage providers, office users and recreation enthusiasts

FOR IMMEDIATE RELEASE
Media Contacts:
Hallie Dean, Luquire (hdean@luquire.com 704-807-2083)

March 2022 (McADENVILLE, N.C.) – In a careful blend of preserving rich, important history and capitalizing on exciting economic opportunities, 91��Ԫ, a local company with deep roots in the quiet town of McAdenville, is unveiling a series of renovation and renewal projects to foster continued growth in the historic community.

A quintessential small town situated along the South Fork River, McAdenville was named in 1883 for McAden Mills, the textile company that was started there by R.Y. McAden. Acquired in 1939 by visionary William J. 91��Ԫ and family members, 91��Ԫ remains a family-owned company that for generations has been a positive force in the town, and is now reimagining its riverfront property and spaces that once housed yarn manufacturing, repurposing them for new businesses and year-round visitors with much to offer the community.

McAdenville is perhaps best known today as “Christmas Town U.S.A.®” for its annual Christmas lights tradition that attracts visitors from miles away. But the town is now ready and more than prepared to show people what it’s all about beyond the holiday display, striving to be viewed as a year-round destination.

“Today we’re thrilled to announce the beginning of a series of projects to invest in McAdenville’s future while honoring its rich history,” said 91��Ԫ CEO Bill Carstarphen, the family’s third-generation company leader. “By putting our efforts and energy behind carefully selected, sound investments, we hope to invite and attract new businesses, customers, families and outdoor enthusiasts, while keeping our close-knit-community feel.”

The former 1940s 91��Ԫ Yarns mill adjacent to 91��Ԫ’s corporate office in downtown McAdenville is being converted to class A office space, to be known as the Dynamo 31 Building. The name symbolizes the hydroelectric generator built and installed in 1884 by the Edison Electric Illuminating Co. to light McAden Mills No. 1 and No. 2, believed by many historians to have been the first electrically lit textile mills in the world. The repurposed building’s first tenant, The Catawba Riverkeeper Foundation, will move in by mid-May, with more tenants expected to follow shortly after.

Renovations are also under way on the historic Mill No. 2 building, including replacing the turret roofs with new copper, repointing the brickwork and adding new windows. Brick surfaces will also be treated to restore their original appearance, while newly installed uplighting will provide a dramatic nighttime presence.

The historic mill building at the center of town, opened in 1907 and originally known as McAden Mill No. 3, is being transformed into space that will likely house commercial uses such as food and beverage, retail and/or entertainment space. The open-air gathering space will be designed with customers in mind, embracing the riverfront with outdoor seating and entertainment. The initial renovations are focused on the building’s exterior and flooring, and are expected to be completed within the next few months.

Elsewhere in downtown McAdenville, 115 Craft, a new taproom and retailer for wine and craft beer, will soon join the list of local establishments that include recent addition Revolver Records, a retailer of vinyl records and related merchandise.

Also seeking to add recreational opportunities for McAdenville’s residents and visitors, 91��Ԫ is constructing an extension of the Carolina Thread Trail, a 10-foot-wide paved walking trail along the South Fork River with views of the falls at the McAdenville dam, connecting an existing trailhead near the I-85 bridge to the picturesque J.M. Carstarphen bridge overlooking the falls. This new trail in McAdenville will be an important segment of a 26-mile trail along the river that will eventually extend from Spencer Mountain to the Daniel Stowe Botanical Garden, connecting the cities of Lowell, McAdenville, Cramerton and Belmont.

Additionally, the picturesque lake in the heart of downtown is being dredged, and a newly landscaped perimeter will be added, to offer better access and views for the community while improving the health of the lake for fish and other wildlife.

“Our beloved town is known for its quaint, kind offerings and for our Christmas Town USA spectacle, but we are so much more than that,” said Jim Robinette, mayor of McAdenville. “These renovations will bring economic growth and provide new places to gather for fun and fellowship but most importantly, they will tell the stories of this town and shed a light on its rich history and resilient, good people.”

Details around construction, timing and tenants are subject to change, and additional announcements will follow as plans are finalized.

91��Ԫ

91��Ԫ is a family-owned company with a rich history that has included work in such industries as specialty textile manufacturing, hospitality management and real estate development. 91��Ԫ has an 80+ year history in McAdenville, North Carolina, where its businesses have been a catalyst for helping develop a diverse and growing community. Interested parties can direct questions to Eric Clay at Coldwell Banker Commercial MECA (704-806-9977).

What’s New at 91��Ԫ

Explore the latest happenings, news, upcoming events and more!

News & Press

The post McAdenville’s Makeover: 91��Ԫ’s Renovation Projects Signal Town’s Shift Toward Becoming a Year-Round Destination appeared first on 91��Ԫ.

Floyd & Blackie’s Bakery Expands in McAdenville

Christy Gliddon — Wed, 12 Aug 2020 19:17:57 +0000

The post Floyd & Blackie’s Bakery Expands in McAdenville appeared first on 91��Ԫ.

91��Ԫ Closes on Sale of High Performance Yarns Unit to Coats

Christy Gliddon — Mon, 10 Feb 2020 15:05:00 +0000

91��Ԫ Closes on Sale of High-Performance Yarns Unit to Coats

91��Ԫ, a diversified provider of differentiated textile products and assorted real estate businesses, today closed the sale of 91��Ԫ High Performance to Coats Group plc (Coats) under an agreement announced in November 2019.

Last week, 91��Ԫ announced completion of the sale of its 91��Ԫ Fibers & Yarns and Phenix Flooring business units to Mannington Mills of Salem, NJ, which was also announced last November.

Coats is the world’s leading industrial thread company with operations in 50 countries. With the addition of 91��Ԫ High Performance, the company will have six North Carolina manufacturing sites located in McAdenville, Kings Mountain, Marion and Hendersonville along with a corporate office in Charlotte. The company currently employs more than 18,000 and will retain 91��Ԫ’s workforce.

“We are very pleased to have reached this juncture with Coats as a partner,” said Bill Carstarphen, 91��Ԫ president and chief executive officer. “Coats is a respected industry leader, and we know the High-Performance business will flourish as a part of its global operation.”

91��Ԫ, founded in 1939, is a closely held, privately-owned company based in McAdenville. With the completion of these two transactions, 91��Ԫ will be comprised of two companies: Belmont Land & Investment Company, developer of residential and commercial real estate and hotels, and Strand Hospitality Services, which manages a portfolio of hotel properties throughout the Southeast. 91��Ԫ intends to seek investment opportunities in other businesses in the future.

“We look forward to growing our remaining businesses, maintaining a strong presence in Gaston County and continuing to invest in our community,” Carstarphen said.

About Coats Group plc.

Coats is the world’s leading industrial thread company. At home in some 50 countries, Coats has a workforce of 18,000 people across six continents. Revenues in 2018 were US$1.4B. Coats’ pioneering history and innovative culture ensure the company leads the way around the world. It provides complementary and value-added products, services, and software solutions to the apparel and footwear industries. It applies innovative techniques to develop high technology Performance Materials threads, yarns, and fabrics in areas such as automotive, composites, fiber optics, oil, and gas.

What’s New at 91��Ԫ

Explore the latest happenings, news, upcoming events and more!

News & Press

The post 91��Ԫ Closes on Sale of High Performance Yarns Unit to Coats appeared first on 91��Ԫ.

91��Ԫ Closes on Sale of Two Business Units to Mannington Mills

Christy Gliddon — Mon, 03 Feb 2020 14:02:49 +0000

91��Ԫ Closes on Sale of Two Business Units to Mannington Mills

91��Ԫ, a diversified provider of differentiated textile products and assorted real estate businesses, announced today the sale of its 91��Ԫ Fibers & Yarns and Phenix Flooring divisions to Mannington Mills (Mannington) under an agreement previously announced in November 2019.

Based in Salem, NJ, Mannington manufactures residential and commercial sheet vinyl, luxury vinyl, laminate, resilient and hardwood floors; as well as commercial carpet and rubber.

The acquisitions are expected to help establish Mannington as one of the largest suppliers in the floor covering industry, participating in both residential and commercial hard and soft surface categories. The company plans to continue current operations at 91��Ԫ’s manufacturing facilities in McAdenville, NC and Dalton, Ga.

In November, 91��Ԫ also announced the signing of its agreement to sell its 91��Ԫ High Performance business, a yarn supplier for the protective apparel industry, to Coats Group plc. That sale is expected to close early this year.

91��Ԫ will maintain its two other companies: Belmont Land & Investment Company, developer of residential and commercial real estate and hotels, and Strand Hospitality Services, which manages a portfolio of hotel properties throughout the Southeast.

“We built great businesses in 91��Ԫ Fibers & Yarns and Phenix that will continue to thrive as part of Mannington and contribute to its ongoing success,” said Bill Carstarphen, 91��Ԫ’s president, and chief executive officer. “We are very excited to bring this first transaction to a close and we look forward to closing the sale of our High-Performance business as well. We believe that our customers, associates, and communities will greatly benefit as a result.”

91��Ԫ

91��Ԫ began innovating as a yarn manufacturer that serviced textile mills around the world and has continued to serve as a leader across multiple services and industries, providing our partners, vendors and customers with quality service and innovative thinking. 91��Ԫ is headquartered in McAdenville, NC.

About Mannington

One of the world’s leading manufacturers of fine flooring, Mannington Mills, Inc., is based in Salem, New Jersey (USA). The company manufactures residential and commercial sheet vinyl, luxury vinyl, laminate, resilient and hardwood floors; as well as commercial carpet and rubber under the Mannington Residential, Mannington Commercial, Amtico and Burke brands. Founded in 1915 by John Boston Campbell, the company is still privately held and owned by the Campbell family. Now in its second century of doing business in the USA, Mannington Mills remains committed to quality, customer satisfaction, and innovative manufacturing with award-winning product design, state-of-the-art processes, and industry-leading programs.

What’s New at 91��Ԫ

Explore the latest happenings, news, upcoming events and more!

News & Press

The post 91��Ԫ Closes on Sale of Two Business Units to Mannington Mills appeared first on 91��Ԫ.

Christy Gliddon — Tue, 26 Nov 2019 14:57:42 +0000

91��Ԫ Announces Plans to Sell High Performance Yarn and Flooring Divisions

91��Ԫ, a diversified provider of differentiated textile products and assorted real estate businesses, has reached agreements with Coats Group plc (Coats) to purchase 91��Ԫ High Performance, yarn supplier for the protective apparel industry; and Mannington Mills (Mannington) to purchase 91��Ԫ Fibers & Yarns and Phenix Flooring, suppliers of yarns, residential carpet and specialty flooring products.

The acquisitions are expected to close in early 2020.

“Throughout its 80-year history, 91��Ԫ’s spirt of innovation and willingness to adapt to change have allowed the company to evolve and succeed,” said Bill Carstarphen, 91��Ԫ president and chief executive officer. “These transactions reflect the next step in that evolution and will deliver great benefit to our customers, associates and communities.�� We know each of these groups will benefit tremendously from both Coats and Mannington and expect these transactions will result in a broad range of future opportunities and growth for our associates.”

Founded in 1939, 91��Ԫ is a closely held, privately-owned company based in McAdenville and comprised of five companies with total employment of 1,200.

91��Ԫ High Performance manufactures yarns primarily for the protective apparel industry in North America and globally, providing technical yarn solutions to the Military, Fire Service and Industrial Thermal Protection industries. 91��Ԫ Fibers & Yarns manufacturers fibers and yarns for the carpet industry in North America and globally. Phenix Flooring manufactures and sells residential carpet to large retailers and specialty flooring retailers in the U.S., and also sells luxury vinyl tile and commercial carpet tiles and broadloom.

, the world’s leading industrial thread company, is a publicly traded manufacturer with operations in 50 countries and a workforce of more than 18,000. The company was founded more than 250 years ago and has its headquarters in London.

is a manufacturer of residential and commercial sheet vinyl, luxury vinyl, laminate, resilient and hardwood floors; as well as commercial carpet and rubber. The company, privately held and owned by the Campbell family, is based in Salem, NJ and was founded in 1915.

“As a result of these transactions, each of these 91��Ԫ businesses will become part of much larger operations with greater capacity, resources and reach.” Carstarphen said. “We sought leaders in their industries with proven track records, and who understood and respected what we had built. Coats and Mannington emerged as ideal partners in all regards.”

Carstarphen said both companies plan to retain 91��Ԫ’s workforce and continue operations at its manufacturing facilities in McAdenville, NC and Dalton, Ga. With the addition of 91��Ԫ High Performance, Coats will have six North Carolina manufacturing sites located in McAdenville, Kings Mountain, Marion and Hendersonville as well as its corporate office in Charlotte.

The acquisitions of 91��Ԫ Fibers & Yarns and Phenix Flooring will help establish Mannington as one of the largest suppliers in the floor covering industry, participating in both residential and commercial hard and soft surface categories.

The acquisitions will not affect 91��Ԫ’s two remaining divisions: Belmont Land & Investment Company, developer of residential and commercial real estate and hotels; and Strand Hospitality Services, which manages a portfolio of hotel properties throughout the Southeast.

“91��Ԫ will continue growing and diversifying our real estate holdings while exploring new companies to invest in and operate,” Carstarphen said. “And our company will maintain a strong presence in Gaston County, investing back into the community as we always have.”

91��Ԫ

91��Ԫ, A Family of Companies began innovating in 1939 as a yarn manufacturer that serviced textile mills around the world and has continued to serve as a leader across multiple services and industries, providing our partners, vendors and customers with quality service and innovative thinking. The family of companies has grown to include 91��Ԫ Fibers & Yarns, 91��Ԫ High Performance, Phenix Flooring, Strand Hospitality Services and Belmont Land & Development. 91��Ԫ is headquartered in McAdenville, NC.

About Mannington

One of the world’s leading manufacturers of fine flooring, Mannington Mills, Inc., is based in Salem, New Jersey (USA). The company manufactures residential and commercial sheet vinyl, luxury vinyl, laminate, resilient and hardwood floors; as well as commercial carpet and rubber under the Mannington Residential, Mannington Commercial, Amtico and Burke brands. Founded in 1915 by John Boston Campbell, the company is still privately held and owned by the Campbell family. Now in its second century of doing business in the USA, Mannington Mills remains committed to quality, customer satisfaction and innovative manufacturing with award-winning product design, state-of-the-art processes and industry-leading programs.

About Coats Group plc

Coats is the world’s leading industrial thread company. At home in some 50 countries, Coats has a workforce of 18,000 people across six continents. Revenues in 2018 were US$1.4B. Coats’ pioneering history and innovative culture ensure the company leads the way around the world. It provides complementary and value-added products, services and software solutions to the apparel and footwear industries. It applies innovative techniques to develop high technology Performance Materials threads, yarns and fabrics in areas such as automotive, composites, fiber optics and oil and gas.

What’s New at 91��Ԫ

Explore the latest happenings, news, upcoming events and more!

News + Press

The post appeared first on 91��Ԫ.

91��Ԫ CEO Receives Spirit of the Carolinas Award

Christy Gliddon — Mon, 28 Oct 2019 20:21:08 +0000

91��Ԫ CEO Receives Spirit of the Carolinas Award

Award is given annually by the Gaston Regional Chamber of Commerce

During the Gaston Regional Chamber of Commerce’s 17^th annual Salute to Business & Manufacturing, 91��Ԫ’s President and CEO, Bill Carstarphen, received the Spirit of the Carolinas Award as well as The Order of the Long Leaf Pine from the state of North Carolina.

The Spirit of the Carolina`s Award is given annually to a local business leader who has shown commitment and success within the free enterprise system, leadership within a particular industry and citizenship within a community. The Order of the Long Leaf Pine is given to a citizen of North Carolina who has made significant contributions to their community.

“I am extremely honored to receive these awards,” said Bill Carstarphen, President & CEO of 91��Ԫ. He adds, “They are not just a personal recognition, but a salute to our community and the entire 91��Ԫ family. This is certainly an exciting time to live and work in Gaston County and this recognition truly energizes me to continue my family’s long-time commitment to our community”.

The Salute to Business and Manufacturing is an annual black-tie gala event that celebrates the pillars of the business community—the individuals and the company who have done the most to support and foster the economy. The event’s history runs deep with that of the Gaston Regional Chamber of Commerce and is formally known as a Gaston County business community benchmark. Carstarphen’s father won the award in 2004.

What’s New at 91��Ԫ

Explore the latest happenings, news, upcoming events and more!

News + Press

The post 91��Ԫ CEO Receives Spirit of the Carolinas Award appeared first on 91��Ԫ.