KPS Capital's A&E to acquire Gutermann's thread business

17 Jun '14

3 min read

Fred Jackson, Chief Executive Officer of A&E, said, "The acquisition of Gutermann is a critical strategic step in the growth of A&E. We are very impressed with Gutermann's diverse product portfolio, customer base, premium quality and technical capabilities. Gutermann's strong market position in Europe coupled with A&E's worldwide manufacturing and distribution footprint and strong brand recognition in North America and Asia is an ideal combination.

"This acquisition furthers our commitment to support our customers globally with high-quality localized supply, technical resources, customer service support, and the highest environmental and social responsibility. A&E has made tremendous progress under KPS ownership and, with the strategic addition of Gutermann, I believe our future is even brighter."

Completion of the transaction is expected on June 30, 2014 and is subject to customary closing conditions.

Hengeler Mueller is serving as legal counsel to KPS and A&E. Financing for the transaction will be provided by a syndicate of banks led by Merrill Lynch, Pierce, Fenner & Smith, Inc., along with Wells Fargo Securities, LLC, and PNC Capital Markets LLC acting as Joint Lead Arrangers.

KPS Capital Partners

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