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

Uzbekistan, S Korea to launch textile techno park in Sept

Textiles | On 19th Feb 2018

Uzbekistan, S Korea to launch textile techno park in Sept

Uzbekistan and South Korea plan to launch a modern textile techno...

Hyosung to invest Rs 3,000 cr in Maharashtra spandex unit

Textiles | On 19th Feb 2018

Hyosung to invest Rs 3,000 cr in Maharashtra spandex unit

The largest global spandex producer Hyosung Corporation of South...

Courtesy: VF Corporation

Apparel/Garments | On 19th Feb 2018

VF Corp Q4 revenue climbs 20% to $3.6 billion

The revenue of VF Corporation, a global leader in branded lifestyle...

Interviews View All

Headhonchos
Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Urmil Arya

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

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

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...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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

February 2018

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
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

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
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

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
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

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
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


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