Home / Knowledge / News / Textiles / KPS Capital's A&E to acquire Gutermann's thread business
KPS Capital's A&E to acquire Gutermann's thread business
17
Jun '14
KPS Capital Partners, LP announced that its portfolio company American & Efird Global, L.P. ("A&E") will acquire substantially all of Gutermann Holding SE's global industrial and consumer thread business ("Gutermann").  The transaction was approved by the stockholders of Gutermann on June 14, 2014, but is still subject to customary closing conditions. Financial terms of the transaction were not disclosed. 
 
A&E is the largest U.S. manufacturer and the world's second-largest manufacturer and distributor of premium quality industrial and consumer 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 22 manufacturing facilities and employs over 9,000 associates around the world directly or in partnership with joint venture partners.  KPS acquired A&E from Harris Teeter Supermarkets, Inc. (now a subsidiary of The Kroger Co.) in November 2011.  
 
Founded in 1864 and headquartered in Gutach, Germany, Gutermann is a leading European manufacturer and distributor of premium, high-quality sewing thread products for consumer and industrial applications. Gutermann's products serve a variety of end-markets, including apparel, shoes, leather goods, work wear, home textiles and automotive end markets. Gutermann has a highly regarded brand name globally and a strong reputation among leading European apparel and non-apparel brands.  Gutermann owns and operates four manufacturing facilities located in Germany, Spain, Mexico and India, and employs approximately 1,000 associates around the world.
 
Michael Psaros, a Managing Partner of KPS, said, "The transformation of A&E under KPS' ownership is remarkable.  A&E has exceeded all of our expectations for growth on a global scale by successfully expanding into adjacent geographies, products and end-markets. The strategic and industrial logic of A&E acquiring Gutermann is extraordinarily compelling as it will even further advance A&E's industry-leading quality, customer service and innovation, delivered through an integrated and truly global manufacturing footprint.  A&E's conservative capital structure, absence of large unfunded pensions and other legacy obligations, coupled with its access to KPS' material capital resources, positions the company to grow aggressively organically and through acquisition."

Must ReadView All

Textiles | On 27th Apr 2017

Maharashtra govt working on second textiles policy

The textiles department of the government of Maharashtra is working...

Apparel/Garments | On 27th Apr 2017

EC takes action to make garment sector more sustainable

The European Commission (EC) has presented a set of focused actions...

Textiles | On 27th Apr 2017

Seven new organisations join ZDHC Programme

The Zero Discharge of Hazardous Chemicals (ZDHC) Programme from...

Interviews View All

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Jay Ramrakhiani
Occasions Elegance Wear

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

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Robert Brunner
Devereux

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

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

news category


Related Categories:
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


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



X