Home / Knowledge / News / Textiles / American Securities acquires Frontier Spinning Mills
American Securities acquires Frontier Spinning Mills
31
Dec '13
American Securities LLC, a leading U.S. private equity firm, announced that, in partnership with management, it has completed the acquisition of Frontier Spinning Mills Holding Corp., a leading producer of cotton yarn for the knitting and weaving industries, from an affiliate of Sun Capital Partners, Inc.  Financial terms of the transaction were not disclosed.

Frontier is one of the largest U.S. based producers of cotton and cotton/polyester blend yarns for the knitting and weaving industries and holds market leading positions in open-end spinning. Offering a diverse product line to fulfill the demands of customers worldwide, yarn produced by Frontier is used in sportswear, undergarments, socks, sweaters, fleece, denim, and home furnishings.  The Company operates five spinning facilities in North Carolina and Alabama with 1,076 employees.

"We are proud of the long-standing relationships that we have built with our customers, and continue to be focused on working with them to offer high quality and reliable product supply," said John Bakane, Chief Executive Officer of Frontier.  "We are excited about our new partnership with American Securities, which will further our ability to service our customers worldwide."

"American Securities' acquisition of Frontier is another example of our strategy of investing in unique, market-leading companies," said Kevin S. Penn, Managing Director at American Securities. "Frontier has long-term relationships with blue chip clients that, when combined with strong, long-term demand for its products, make it an attractive investment for us.  We look forward to working with the Company's highly talented management team to expand Frontier's capabilities to better serve its growing customer base."

Kaye Scholer LLP served as legal counsel to American Securities, and Kirkland & Ellis LLP served as legal counsel to Frontier with respect to the transaction.  Wells Fargo Securities, LLC acted as financial advisor to Frontier and the seller with respect to the transaction.

About Frontier Spinning Mills, Inc.

Frontier is one of the largest U.S. based producers of cotton and cotton/polyester blend yarns for the knitting and weaving industries and holds market leading positions in open-end spinning.  Offering a diverse product line to fulfill the demands of customers worldwide, yarn produced by Frontier is used in sportswear, undergarments, socks, sweaters, fleece, denim, and home furnishings.  The Company operates five spinning facilities in North Carolina and Alabama with 1,076 employees. 

About American Securities LLC

Based in New York with an office in Shanghai, American Securities is a leading U.S. private equity firm that invests in market-leading North American companies with annual revenues generally ranging from $500 million to $2 billion.  American Securities and its affiliates have approximately $10 billion under management.  American Securities is currently investing from its sixth fund.

American Securities


Must ReadView All

Textiles | On 20th Jul 2017

Provide safety net for cotton growers: Congress to Trump

A bipartisan Congressional coalition has called attention of...

Courtesy: ITMF

Textiles | On 20th Jul 2017

ITMF'17 themed on tech, trade, climate in disruptive times

The International Textile Manufacturers Federation (ITMF), an...

Textiles | On 20th Jul 2017

RIL’s Q1 FY18 petrochemicals revenue up 22.9% y-o-y

Reliance Industries Limited (RIL) has reported its financial...

Interviews View All

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Johan Berlin
InvestKonsult Sweden AB

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

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Mike Hoffman
Gildan Activewear SRL

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

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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