Converters Cyrus Clark and David Dee to combine

Staff -- Home Textiles Today, 7/13/2001 12:00:00 AM

New York — A holding company has signed a letter of intent to acquire fabric converters Cyrus Clark and David Dee.

The holding company, as yet unnamed, consists of Cyrus (Rus) Clark III, the president and one of the family that owns Cyrus Clark, David Dee, president and owner of David Dee, Bill Zales, long time fabric industry executive and industry consultant and Netherlands-based Belta Com. Zales's extensive career in the decorative fabric business included P/Kaufmann and Fabriyaz, the latter a converting firm he co-owned, which is no longer in existence.

Cyrus Clark, a 76 year old family owned business, has a signature look in prints in a mostly traditional mode, and has moved into wovens, with a customer base including decorative jobbers, fabric retailers, home textiles manufacturers, and furniture manufacturers.

David Dee, primarily a converter of print and jacquard fabrics for the contract market, has expanded into the residential market as well, said Zales, who will be ceo of the new company.

The combined company, Zales explained, "will target designer products for the medium to upper end market." Putting the two companies together, he added "will make both strong from a marketing perspective and provide synergy for both the residential and contract businesses."