Divestiture • Manufacturing

Kingswood Capital Management Acquires Daramic

On December 2, 2025, private equity firm Kingswood Capital Management acquired manufacturer Daramic from Asahi Kasei

Acquisition Context
  • This is Kingswood Capital Management’s 1st transaction in the Manufacturing sector.
  • This is Kingswood Capital Management’s 19th transaction in the United States.
  • This is Kingswood Capital Management’s 1st transaction in North Carolina.

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M&A Deal Summary

Date December 2, 2025
Target Daramic
Sector Manufacturing
Buyer(s) Kingswood Capital Management
Sellers(s) Asahi Kasei
Deal Type Divestiture

Target Company

Daramic

Charlotte, North Carolina, United States
Daramic is a manufacturer and supplier of battery separators mainly polyethylene (PE) and phenolic resin separators for lead-acid batteries used in automotive, industrial and specialty battery applications. The Firm supports global battery manufacturing through a network of manufacturing plants and technical centers across North America, Europe, and Asia, including a production facility and R&D presence in India. Daramic was originally established in 1930 and is headquartered in Charlotte, North Carolina
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Buyer Overview 1

DESCRIPTION

Kingswood Capital Management is an operationally focused private equity firm focused on complex situations throughout North America. The Firm targets control positions in middle-market companies with revenues of $100 to $500 million. Sectors of interest include business services, consumer, retail, energy, industrials, technology, media, communications, and value-added distribution. Kingswood Capital Management was established in 2013 and is based in Los Angeles, California.


Deal Context for Buyer #
Overall 22 of 24
Sector: Manufacturing 1 of 1
Type: Divestiture 10 of 11
State: North Carolina 1 of 1
Country: United States 19 of 21
Year: 2025 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-10-16 Drive DeVilbiss Healthcare

Port Washington, New York, United States

Drive DeVilbiss Healthcare manufactures a complete line of medical products, including mobility products, sleep and respiratory products, beds, bariatric products, wheelchairs, sleep surfaces and pressure prevention products, self-assist products, power operated wheelchairs, rehabilitation products, patient room equipment, personal care products and electrotherapy devices. Drive DeVilbiss Healthcare was founded in 2000 and is based in Port Washington, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-12-10 Safran Passenger Innovations

Brea, California, United States

Safran Passenger Innovations is an aerospace technology company that designs, develops, and supplies in-flight entertainment and connectivity systems, including the RAVE platform, for commercial aircraft. Safran Passenger Innovations was founded in 1996 and is based in Brea, California.

Buy -

Seller Profile 1

SELLER

Asahi Kasei

Tokyo, Japan

Category Company
Founded 1922
Sector Chemicals
Employees50,352
Revenue 3.04T JPY (2025)
DESCRIPTION

Asahi Kasei provides chemicals Segment offers organic and inorganic industrial chemicals, synthetic resin, synthetic rubber, high-compound fertilizer, coating materials, latex, pharmaceutical and food additives, explosives, photopolymers and platemaking systems, separation and ion-exchange membranes, systems, and equipment. Asahi Kasei was incorporated in 1922 and is based in Tokyo, Japan.


Deal Context for Seller #
Overall 2 of 2
Sector: Manufacturing 1 of 1
Type: Divestiture 2 of 2
State: North Carolina 1 of 1
Country: United States 1 of 1
Year: 2025 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-25 Veloxis Pharmaceuticals

Cary, North Carolina, United States

Veloxis Pharmaceuticals is a fully integrated specialty pharmaceutical company that develops a clinically validated drug-delivery platform for overcoming the deficiencies of drugs with low water solubility, thus improving the bioavailability of marketed drugs and new chemical entities (NCEs). Veloxis Pharmaceuticals is based in Cary, North Carolina.

Buy kr.8.9B