BOSTON--(BUSINESS WIRE)--May 27, 2025--
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Paul Colone, Managing Director, commented, “FIT is well known for developing and producing innovative fibers and will benefit from Universal’s commitment to supporting growth through strategic investments. We are proud to have advised Cha Technologies on multiple transactions and to have delivered a strong strategic home for FIT and its dedicated team.”
Based in Johnson City, Tenn., FIT designs and produces specialty synthetic fibers for advanced applications in textiles and nonwovens, with state-of-the-art facilities that include a world-scale production line and a dedicated semi-works facility for product development. The company offers a wide range of capabilities, from developing bicomponent fibers to custom solutions.
Through this partnership, FIT and Universal Fiber Systems will expand their operational footprint to better serve global customers, deliver enhanced products and services, and respond to market needs.
Jacques Boubal, CEO of Cha Technologies Group, remarked, “We are highly appreciative of our long-term relationship with Paul Colone and D.A. Davidson and their key role in the success of our divesture program. Their tenacity and ability to leverage synergy value have driven the successful conclusion of our cross-border transactions.”
D.A. Davidson Investment Banking is a leading full-service investment bank that offers comprehensive financial advisory and capital markets expertise. The group has extensive transaction experience serving middle-market clients worldwide across four industry verticals: Consumer, Diversified Industrials, Financial Institutions, and Technology. Together with its European strategic partner, MCF Corporate Finance, D.A. Davidson originates and executes transatlantic M&A transactions under the common brand of D.A. Davidson MCF International.
About D.A. Davidson
D.A. Davidson Companies is an employee-owned financial services firm offering a range of financial services and advice to individuals, corporations, institutions and municipalities nationwide. Founded in 1935 with corporate headquarters in Great Falls, Montana, and regional headquarters in Denver, Greater Los Angeles, New York, Omaha and Seattle, the company has approximately 1,600 employees and offices in 30 states.
Subsidiaries include: D.A. Davidson & Co., a full-service investment firm providing wealth management, investment banking, equity and fixed income capital markets services, and advice; Davidson Investment Advisors, a professional asset management firm; D.A. Davidson Trust Company, a trust and wealth management company; and Davidson Fixed Income Management, a registered investment advisor providing fixed income portfolio and advisory services.
For more information, visit dadavidson.com.
D.A. Davidson announced today that it served as the exclusive financial advisor to Cha Technologies Group — a global conglomerate with diversified businesses in property, technology, textiles, financial services, and healthcare — in its sale of Fiber Innovation Technology (“FIT” or “the company”) to Universal Fiber Systems, a global leader with a family of brands specializing in the production of high-quality synthetic fibers.
SEOUL, South Korea (AP) — Ahn Sung-ki, one of South Korean cinema’s biggest stars whose prolific 60-year career and positive, gentle public image earned him the nickname “The Nation’s Actor,” died Monday. He was 74.
Ahn, who had suffered blood cancer for years, was pronounced dead at Seoul's Soonchunhyang University Hospital, his agency, the Artist Company, and hospital officials said.
“We feel deep sorrow at the sudden, sad news, pray for the eternal rest of the deceased and offer our heartfelt condolences to his bereaved family members," the Artist Company said in a statement.
President Lee Jae Myung issued a condolence message saying Ahn provided many people with comfort, joy and time for reflection. “I already miss his warm smile and gentle voice,” Lee wrote on Facebook.
Born to a filmmaker in the southeastern city of Daegu in 1952, Ahn made his debut as a child actor in the movie “The Twilight Train” in 1957. He subsequently appeared in about 70 movies as a child actor before he left the film industry to live an ordinary life.
In 1970, Ahn entered Seoul’s Hankuk University of Foreign Studies as a Vietnamese major. Ahn said he graduated with top honors but failed to land jobs at big companies, who likely saw his Vietnamese major largely useless after a communist victory in the Vietnam War in 1975.
Ahn returned to the film industry in 1977 believing he could still excel in acting. In 1980, he rose to fame for his lead role in Lee Jang-ho’s “Good, Windy Days,” a hit coming-of-age movie about the struggle of working-class men from rural areas during the country’s rapid rise. Ahn won the best new actor award in the prestigious Grand Bell Awards, the Korean version of the Academy Awards.
He later starred in a series of highly successful and critically acclaimed movies, sweeping best actor awards and becoming arguably the country’s most popular actor in much of the 1980-90s.
Some of his memorable roles included a Buddhist monk in 1981’s “Mandara,” a beggar in 1984’s “Whale Hunting,” a Vietnam War veteran-turned-novelist in 1992’s “White Badge,” a corrupt police officer in 1993’s “Two Cops,” a murderer in 1999’s “No Where To Hide,” a special forces trainer in 2003’s “Silmido” and a devoted celebrity manager in 2006’s “Radio Star.”
Ahn had collected dozens of trophies in major movie awards in South Korea, including winning the Grand Bell Awards for best actor five times, an achievement no other South Korean actors have matched yet.
Ahn built up an image as a humble, trustworthy and family-oriented celebrity who avoided major scandals and maintained a quiet, stable personal life. Past public surveys chose Ahn as South Korea’s most beloved actor and deserving of the nickname “The Nation’s Actor.”
Ahn said he earlier felt confined with his “The Nation's Actor” labeling but eventually thought that led him down the right path. In recent years, local media has given other stars similar honorable nicknames, but Ahn was apparently the first South Korean actor who was dubbed “The Nation's Actor.”
“I felt I should do something that could match that title. But I think that has eventually guided me on a good direction,” Ahn said in an interview with Yonhap news agency in 2023.
In media interviews, Ahn couldn’t choose what his favorite movie was, but said that his role as a dedicated, hardworking manger for a washed-up rock singer played by Park Jung-hoon resembled himself in real life the most.
Ahn was also known for his reluctance to do love scenes. He said said he was too shy to act romantic scenes and sometimes asked directors to skip steamy scenes if they were only meant to add spice to movies.
“I don’t do well on acting like looking at someone who I don’t love with loving eyes and kissing really romantically. I feel shy and can’t express such emotions well,” Ahn said in an interview with the Shindonga magazine in 2007. “Simply, I’m clumsy on that. So I couldn’t star in such movies a lot. But ultimately, that was a right choice for me.”
Ahn is survived by his wife and their two sons. A mourning station at a Seoul hospital was to run until Friday.
FILE - South Korean actor Ahn Sung-ki smiles for a photo on the red carpet at the 56th Daejong Film Awards ceremony in Seoul, South Korea, June 3, 2020. (AP Photo/Ahn Young-joon, File)
FILE - South Korean actor Ahn Sung-ki attends an event as part of the 11th Pusan International Film Festival in Busan, South Korea, Oct. 13, 2006. (AP Photo/Kin Cheung, File)
