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Gores Group acquires clothing accessories firm
15
Jun '11
The Gores Group LLC announced that it has entered into final phases of acquiring substantially all of the assets of Scovill Fasteners, a leading manufacturer of engineered closure products that have wide use in global apparel and industrial market segments, through a transaction under Section 363 of the U.S. Bankruptcy Code. The U.S. Bankruptcy Court for the District of Delaware approved the transaction on June 10, 2011.

Scovill, which is located in Clarkesville, Georgia, has made snap-closure buttons for consumer and military clothing since 1802. The company's products represent the cutting edge in form, fit and function in the closure fastener industry. From high fashion to infantswear, career apparel, designer jeanswear, leather products, and sporting goods, Scovill snap fastener and button closures meet the demands of today's market application requirements for quality, durability and delivered value.

“We are very excited with this acquisition. Scovill is an outstanding company with great employees and an impressive lineup of products. Scovill employees have a great history and reputation for providing customers with top-notch quality products and services,” said Mike Hirano, Managing Director of The Gores Group. “We think it has a bright future and look forward to working with the management team and employees to help grow the company.”

Scovill Fasteners, Inc., founded in Waterbury, CT in 1802, is a manufacturer of engineered closure products that have wide use in global apparel and industrial market segments. The Company's brand portfolio includes products that have high brand recognition in the many markets that it serves. Included in the portfolio are Gripper, Duramark, DOT, Pull-The-DOT, Lift-The-DOT, Common-Sense and DOT Durable. Scovill products are found on a wide range of applications, including jeanswear, infants and children's wear, sporting goods, medical devices and safety equipment.

The Gores Group

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