Teppel Buys Samelson Chatelane
June 10, 2022
Mark Teppel
NEW YORK—Mark Teppel, President of Charles Samelson Inc. the converter, has purchased 100% of the company from Harry Samelson as of December 31, 2021.
The purchase includes ownership of Chatelane and Coral Fabrics divisions.
The purchase price was not disclosed.
Prior to the acquisition, Teppel owned 60 percent of the company which he joined in 1981. He purchased the balance of 40 percent in this transaction. The purchase includes a separate acquisition of KST Corp., with its principal asset of a 60,000 square foot warehouse, distribution center, offices a transfer printing operation in Spartanburg, SC.
Harry Samelson, the seller, will remain as a consultant to Samelson Chatelane until the end of 2022.
Although he sees a pent-up demand in the hotel industry for refurbishment, he is cautious about the economy due to increasing mortgage rates, gasoline prices, leadtimes, containers and freight.
The purchase includes ownership of Chatelane and Coral Fabrics divisions.
The purchase price was not disclosed.
Prior to the acquisition, Teppel owned 60 percent of the company which he joined in 1981. He purchased the balance of 40 percent in this transaction. The purchase includes a separate acquisition of KST Corp., with its principal asset of a 60,000 square foot warehouse, distribution center, offices a transfer printing operation in Spartanburg, SC.
Harry Samelson, the seller, will remain as a consultant to Samelson Chatelane until the end of 2022.
Although he sees a pent-up demand in the hotel industry for refurbishment, he is cautious about the economy due to increasing mortgage rates, gasoline prices, leadtimes, containers and freight.
