Home / Knowledge / News / Textiles / A&E buys two-thirds stake from its two JV partners in Asia
A&E buys two-thirds stake from its two JV partners in Asia
15
May '12
KPS Capital Partners LP announced that its portfolio company American & Efird Global has acquired the outstanding two-thirds share ownership of A&E Sri Lanka and A&E Bangladesh from its two joint-venture partners, Brandix Lanka Limited and Brandot International Ltd. A&E now owns 100% of both businesses. Financial terms of the transactions were not disclosed.

A&E is the largest U.S. manufacturer and the world's second-largest manufacturer and distributor of premium quality industrial sewing thread, embroidery thread and technical textiles. A&E thread is used by producers of apparel, automotive components, home furnishings, medical supplies, footwear and certain industrial products.

A&E owns or operates 23 plants and employs 11,000 associates around the world directly or in partnership with joint venture partners. KPS acquired A&E from Harris Teeter Supermarkets Inc. in November 2011.

Michael Psaros, a KPS Managing Partner, said, "Our objective is to make A&E the premier manufacturer of industrial thread globally. These two acquisitions strengthen A&E's global footprint, significantly streamline and integrate A&E's Asian operations, and positions A&E to benefit fully from the considerable growth in these local markets. We intend to grow A&E aggressively both organically and through acquisition."

Fred Jackson, Chief Executive Officer of A&E, said, "Sri Lanka and Bangladesh are very important, high-growth markets for our Company over the long term, and we are tremendously excited about the opportunity to increase our presence in both countries. Our ability to take full control of the operations in Sri Lanka and Bangladesh will strengthen our unparalleled ability to provide our customers with the highest quality thread and consistently superior service throughout this strategic region."

Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to A&E and its affiliate and Goodwin Procter LLP served as legal counsel to Brandot International Ltd.

American & Efird is the largest U.S. manufacturer and the world's second-largest manufacturer and distributor of industrial sewing thread, embroidery thread and technical textiles, produced from natural and synthetic fibers.

KPS Capital Partners, LP is the manager of the KPS Special Situations Funds, a family of private equity funds with over $2.8 billion of committed capital focused on constructive investing in restructurings, turnarounds and other special situations.

American & Efird Global


Must ReadView All

Textiles | On 22nd Jul 2017

Govt constitutes GST Feedback and Action Room

The Government of India has constituted a Feedback and Action Room...

Textiles | On 22nd Jul 2017

India’s cotton textile exports fell in FY17: Tamta

The overall export of cotton textiles from India declined in 2016-17...

Textiles | On 22nd Jul 2017

Stella McCartney, Bolt Threads partner for eco fashion

Fashion designer Stella McCartney has partnered with Bolt Threads for ...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Sanjay Yagnik
Maa Tex Speciality

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

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

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

July 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

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

Yes No

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

Yes No

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


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



X