Willistown Recapitalizes Quiltcraft and Makes a Follow-on Acquisition of Fabtex in a Strategic Merger
15.04.2025
HOUSTON, TEXAS (April 15, 2025) – Statesman Corporate Finance, LLC (“Statesman”) is pleased to announce that Quiltcraft Industries (“Quiltcraft” and/or “the Company”), a leading provider of custom window treatments and bedding for the hospitality industry, has acquired Fabtex, Inc. (“Fabtex”), one of its largest competitors. The transaction follows a recapitalization of Quiltcraft by Willistown Capital, a private equity firm focused on partnering with middle-market companies for long-term growth.
The acquisition marks a major milestone in Quiltcraft’s growth trajectory. The recapitalization closed in late 2024, with Statesman Corporate Finance, LLC (“Statesman”) serving as exclusive sell-side advisor to Quiltcraft and later providing buy-side advisory on the Fabtex acquisition in 2025.
David Pearson, CEO of Quiltcraft stated, “This is a significant milestone in the history of Quiltcraft. Statesman played a crucial role in guiding us through the process, preparing for the transaction, and identifying the ideal partner that aligns with our core values and sets us up for significant growth in the coming years. By joining forces, we expand our capabilities, deepen our expertise, and build a truly national footprint with broad sourcing and manufacturing. Together, we’re positioned to offer unparalleled value and service to the hospitality industry.” David Pearson added.
Combined, Quiltcraft and Fabtex bring nearly a century of experience, more than 300 employees, and a geographic footprint spanning Texas, California, Pennsylvania and Mexico.
“We’re thrilled to align with a partner who shares our values of innovation, integrity, and excellence,” said Dave Deters, EVP of Sales at Fabtex. “This partnership strengthens our ability to serve clients at every stage of the design and installation process.”
“This transaction reflects our confidence in both teams, our belief in the industry’s strength, and in the value of combining two market leaders,” added Bill Boffa, Managing Partner of Willistown Capital. “David Pearson and Dave Deters bring complementary leadership and deep sector expertise. Together, they’re building a category-defining platform, and we’re proud to support their long-term vision.”
About the other transaction participants
Statesman Corporate Finance, LLC (Houston & Austin, TX) is the FINRA-licensed broker dealer affiliate of Statesman Business Advisors, LLC. Statesman is a leading middle-market investment banking firm providing merger and acquisition, capital formation, valuation, and other general corporate financial advisory services. The team advising on this engagement included Managing Member Will Jaco, Director Jessica Seff, Vice President Sarah Dibbern, and Analyst Marvin Hernandez.
Willistown Capital (Houston, TX) is a Houston-based private investment firm focused on building long-term value in middle-market companies. The firm believes people and culture drive success and takes a flexible, partnership-oriented approach. Willistown supports its portfolio companies in enhancing performance, driving efficiencies, and fostering sustainable growth.
Hallett & Perrin PC (Dallas, TX) provided legal counsel to Quiltcraft, led by Shareholders Timothy R. Vaughan and Julie A. Smith, along with Attorney Robel Tsegu.
McGuireWoods LLP (Houston, TX) provided legal counsel to Willistown Capital, led by Partners Jon Finger and Clare Lewis, along with Associates Robert Morlock and Michael Kawas.
Calvetti Ferguson (Houston, TX) provided accounting advisory to Willistown Capital, led by Partner Anneka Sciola and Senior Associate Logan Walder.
Baker Tilley (Houston, TX) provided tax advisory to Willistown Capital, led by Director Troy Sanchez and Associate Brett Levin.
