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Czech investment firm R2G, majority owner of Pegas Nonwovens, is buying First Quality Enterprises' nonwovens operations in the US and China. The price is estimated at up to $500 million.
R2G Fund Group, parent of Pegas Nonwovens, acquired First Quality Nonwovens (FQN) in May 2018 to expand its nonwovens business globally.
R2G, the Czech private equity firm that had acquired Pegas Nonwovens, purchased First Quality Nonwovens in May 2018, merging the two to form PFNonwovens, one of the largest spunmelt nonwovens producers globally.