PCP Ventures LLC, a Tampa Bay investment group representing family offices with nearly $1 billion in assets, completed the acquisition of Pellon on Oct. 1. The deal came through a bankruptcy process, but the new owners intend to keep the Clearwater, Fla., manufacturing facility open and to invest heavily in its future.
Keeping jobs and expanding capacity
Pellon employs roughly 95 workers at its 220,000‑square‑foot plant in Clearwater. Adam Schoenbaum and Ron Ciganek lead PCP Ventures, and Schoenbaum—who also runs a women’s dress company nearby—said his familiarity with manufacturing and the brand’s strong reputation drove the purchase.
“Big capital investments in machinery. That’s our phase one,” Schoenbaum told the press. The first upgrades will focus on the needle‑punch production line, expanded drop‑shipping capabilities, and technology improvements throughout the factory. Office renovations are also under way.
Product line and market reach
Pellon makes interfacings, stabilizers, quilt batting, fiberfill, foams and other specialty textiles—materials that give shape, support and cushioning to garments, quilts, furniture and home décor. Amy Berg, Pellon’s vice president of sales, described the batting as “the cushy part” of a quilt and called the hidden layers “the magic in the middle.”
Today Pellon’s products are sold at Walmart, Michaels, Hobby Lobby and through distributors in more than 5,000 stores worldwide. The new owners see an opportunity to broaden the brand beyond sewing and quilting, targeting home‑decor, drapery and lining markets where Pellon’s existing materials can serve new uses.
Growth outlook
Despite the recent bankruptcy, Schoenbaum highlighted the $27 billion textile industry as a fertile ground for growth. He emphasized that Pellon’s long‑standing name and trusted quality provide a solid foundation for expansion.
“We have the most depth and breadth of products in the market,” Berg said, noting that the company’s expanded product offerings will help reach more customers and diversify revenue streams.
Community and family focus
Both investors and Pellon staff stress the importance of the plant’s role in the local community. “Pellon is more than a brand, we are family,” Berg said in a prepared statement. Many employees have been with the company for decades, and the leadership aims to preserve that sense of pride while modernizing operations.
PCP Ventures describes itself as an evergreen investor, focusing on long‑term growth rather than quick flips. While the purchase price and total capital‑improvement budget were not disclosed, the commitment to keep the Clearwater operation thriving is clear.
With the upgrades underway and a strategic push into new product categories, Pellon is poised to remain a staple of the textile industry while contributing to the economic health of Clearwater and the broader Pinellas County region.
Original reporting: St. Pete Catalyst — read the source article.
