Albany International Corp. in $119 Million Secondary Equity Offering
August 10, 2021
Cleary Gottlieb represented Albany International Corp. (Albany) in a $119 million secondary public offering of 1.57 million shares of common stock.
The offering priced on August 5, 2021, and closed on August 10, 2021. All of the shares of common stock offered were sold by the selling stockholders. Albany did not sell any shares or receive any proceeds from the offering.
Albany is a leading developer and manufacturer of engineered components, using advanced materials processing and automation capabilities, with two core businesses. Machine Clothing is a producer of custom-designed, consumable fabrics, and process belts essential for the manufacture of all grades of paper products. Albany Engineered Composites is a designer and manufacturer of advanced materials-based engineered components for jet engine and airframe applications, supporting both commercial and military platforms. Albany International is headquartered in Rochester, New Hampshire, operates 23 plants in 11 countries, employs 4,000 people worldwide.