Kingswood Capital Management Acquires Daramic, Appoints Chad Schuchmann as CEO, Plans Strategic Growth
Kingswood Capital Management, LP, together with its affiliates (“Kingswood”), has officially announced the acquisition of Daramic, a leading global manufacturer and supplier of high-performance lead battery separators, from Japanese-based diversified chemical company Asahi Kasei. This acquisition represents a strategic expansion of Kingswood’s portfolio in the industrial and automotive sectors and positions Daramic to accelerate its growth and innovation trajectory under new leadership.
As part of the transaction, Chad Schuchmann, who currently serves as CEO of Polypore—Asahi Kasei’s microporous membrane and battery separator product division—will transition into the role of Chief Executive Officer of Daramic. In his new role, Schuchmann will be responsible for guiding the company through this pivotal phase, leveraging both his deep industry experience and a strong understanding of battery separator technologies.
Founded more than 90 years ago, Daramic has established itself as a global leader in the production of high-performance polyethylene battery separators, critical components for a wide range of applications including automobiles, recreational vehicles, industrial machinery, and heavy equipment. The company has consistently been recognized for its technological expertise, operational excellence, and commitment to quality, making it a trusted partner for manufacturers and distributors around the world. Daramic operates offices, production facilities, and Centers of Innovation across North America, Europe, and Asia, which allows it to provide fast, reliable service and maintain continuity of supply for its global customer base.
“I am honored to take on the role of CEO at such a pivotal moment for Daramic and lead the company into its next chapter of growth,” said Chad Schuchmann. “Kingswood is the right partner to help us achieve our strategic goals. I look forward to collaborating with the entire Kingswood team as we evolve the business, continue to deliver value for our customers, and maintain our position as a trusted leader in lead battery separator technology worldwide. Our goal is to build upon Daramic’s legacy of excellence while exploring new opportunities to expand our reach and impact in the industry.”
Schuchmann’s appointment reflects Kingswood’s commitment to supporting experienced leadership while providing the company with the strategic, operational, and financial resources necessary for sustainable growth. With a proven track record at Polypore, Schuchmann brings extensive knowledge of battery separator technologies, global operations, and supply chain management—skills that will be critical in navigating the company’s next phase of growth and expansion.
Andrew Kovach, Managing Director at Kingswood, emphasized the strategic rationale behind the acquisition: “We have been impressed with Daramic’s strong market position and extensive global footprint. The company is exceptionally well-positioned for continued growth and long-term value creation for its customers, partners, and stakeholders. We are excited to support Daramic as it builds on its long-standing track record of innovation and continues to set the standard for excellence in the battery separator industry.”
Alex Wolf, Founder and Managing Partner at Kingswood, added, “We are proud to welcome Daramic into the Kingswood family. With nearly a century of leadership and expertise in manufacturing battery separators, Daramic has established a legacy of technical excellence and operational reliability. We look forward to working closely with Chad and the entire team to leverage our operational expertise, global network, and strategic resources to guide the company through its next stage of growth. This acquisition represents a compelling opportunity to combine Daramic’s industry-leading capabilities with Kingswood’s proven approach to enhancing value in complex, market-leading businesses.”
The acquisition of Daramic also marks another milestone in Kingswood’s growing track record of managing complex corporate carveouts and acquisitions. Over the past two years, Kingswood has successfully completed several high-profile transactions, including the acquisition of Kodak Alaris, a global technology company specializing in data capture, imaging, and photo products and services, from the United Kingdom Pension Protection Fund. Additionally, Kingswood acquired Infotree, a leading provider of international workforce management solutions, which primarily serves Fortune 500 companies based in the United States. These transactions underscore Kingswood’s capability to manage and grow sophisticated businesses with global operations and complex supply chains.
Daramic’s inclusion in Kingswood’s portfolio also strengthens the firm’s presence in the automotive aftermarket, a sector that has shown resilient demand and strong growth potential. In 2022, Kingswood completed a strategic investment in Turbo Wholesale Tires, an industry-leading designer, supplier, and wholesaler of both proprietary and third-party branded tires. The acquisition of Daramic complements this investment by expanding Kingswood’s footprint in critical automotive components and offering synergies in terms of market knowledge, distribution channels, and customer engagement.
As a global leader in battery separator technology, Daramic has consistently emphasized research, development, and innovation as central pillars of its business. Its Centers of Innovation across multiple continents enable the company to collaborate closely with automotive manufacturers and other industrial partners, ensuring that product development aligns with evolving industry standards and customer requirements. By combining these technological capabilities with Kingswood’s operational expertise and financial resources, Daramic is well-positioned to accelerate innovation and explore new product lines and markets.
The acquisition also reinforces Kingswood’s strategy of investing in companies with strong legacy brands, leading market positions, and opportunities for operational improvement and growth. By providing hands-on support and leveraging its global network, Kingswood aims to help Daramic expand its market presence, optimize operational efficiency, and continue delivering superior products and services to customers worldwide.
For Daramic, the transition to Kingswood ownership represents an opportunity to strengthen its strategic initiatives, explore new geographic markets, and enhance its technological capabilities. The company remains committed to providing reliable, high-quality battery separators to its customers while expanding its leadership role in the industry. Kingswood’s support will help Daramic accelerate growth, invest in research and development, and pursue innovative strategies to maintain its competitive edge.
In summary, the acquisition of Daramic by Kingswood Capital Management represents a strategic and transformative milestone for both companies. It provides Daramic with a strong partner to guide its next chapter of growth while enhancing Kingswood’s presence in the automotive aftermarket and industrial components sectors. With new leadership, substantial global resources, and a shared commitment to innovation and operational excellence, Daramic is poised to continue its legacy as a leading global provider of battery separator solutions while expanding its reach and impact in the years ahead.
This strategic acquisition underscores Kingswood’s dedication to identifying and nurturing market-leading businesses with long-term growth potential, combining legacy strength with forward-looking strategies to maximize value creation for all stakeholders.
Source Link : https://www.businesswire.com/
