Home / Knowledge / News / Apparel/Garments / ComWest to acquire apparel manufacturer & designer Unisync
ComWest to acquire apparel manufacturer & designer Unisync
26
Jun '14
ComWest Enterprise Corp. announces that it has entered into a definitive agreement to acquire a 100% equity interest in Unisync Group Limited ("Unisync"), Canada's leading designer, manufacturer and distributor of direct sale uniforms, workwear, image apparel and related solutions.
 
The transaction is valued at approximately $13,000,000, including debt, with existing shareholders of Unisync having the capability to receive a future contingent payment of up to $2,000,000 subject to the award of specific business which Unisync expects to bid on in 2015. 
 
The acquisition will be financed by $1,755,000 of the private equity placement set out below, a $6,000,000 term loan facility provided by a Canadian chartered bank and the balance from surplus working capital of the combined company. The Board of Directors of ComWest has unanimously approved the transaction, which is anticipated to close on or before July 11, 2014.
 
About ComWest
ComWest's principal business is currently its 90% partnership interest in Peerless Garments LP which was acquired in August 2010. Concurrent with the acquisition of Unisync, it has reached preliminary agreement with its 10% minority limited partner in Peerless to an exercise of the put/call agreement forming part of the Peerless partnership agreement. 
 

ComWest Enterprise


Must ReadView All

Decision in UK budget to attract investment in retail: BRC

Textiles | On 24th Nov 2017

Decision in UK budget to attract investment in retail: BRC

British finance minister Philip Hammond’s announcement in his budget...

Courtesy: Shangdong Ruyi

Textiles | On 24th Nov 2017

Shangdong Ruyi to acquire major stake in Bagir

Shangdong Ruyi Technology Group Ltd, one of the leading Asian global...

Chinese e-commerce firm JD.com invests $44 mn in Tiki.vn

Apparel/Garments | On 24th Nov 2017

Chinese e-commerce firm JD.com invests $44 mn in Tiki.vn

Chinese e-commerce firm JD.com has invested $44 million in Tiki.vn, a ...

Interviews View All

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Urmil Arya

Sushila International, a well established textile organisation established ...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

November 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
30.3%
Skip
7.9%

Total Votes: 89

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search