An offshoot of South Carolina textile giant Milliken & Co. has acquired the owner of the 1,600-acre Bushy Park Industrial Complex in Berkeley County.
Pacolet Milliken Enterprises Inc. announced the acquisition of Cooper River Partners today. The financial terms of the sale were not disclosed.
"Bushy Park is a long-term regional driver of economic prosperity for the Lowcountry by providing a competitive location for the manufacturing of innovation-based products and technologies," said Richard Webel, president of Pacolet Milliken. "Its unique offerings are an asset to any heavy industrial or manufacturing company."
Bushy Park was created on the Cooper River near Goose Creek in 1970 by Verona Color and Bayer Corp.
It's now home to eight global manufacturers that have invested over $1.2 billion at the property and created thousands of jobs. The products made at the site include ingredients for sun screen, pigments, film and fragrances.
The most recent addition to the industrial park is the just-completed Nexans High Voltage USA, which will provide products for underground electrical transmission.
"The team at Bushy Park is very excited about Pacolet Milliken's investment in this asset," said Marc Fetten, president and CEO of Cooper River Partners. The lead investor in that group was Pittsburgh attorney and developer William Krahe.
Pacolet Milliken Enterprises is a private, family-owned investment firm founded in 2007 by the shareholders of Spartanburg-based Milliken & Co. It invests in the energy and real estate markets. Its projects include the Simmons Park apartment complex it's building on Daniel Island with Spectrum Properties Residential of Charlotte.
Nexans High Voltage USA is the newest tenant at Bushy Park Industrial Complex. The company showed samples in 2012 of the type of electrical transmission cables it will be making at the recently finished Berekley County plant.×
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