Home / Knowledge / News / Textiles / Hilden completes recapitalization with Creek Partners
Hilden completes recapitalization with Creek Partners
21
Apr '08
Hilden America Inc announced that it has completed a recapitalization financed and backed by Washington, DC-based private equity firm Pine Creek Partners in partnership with SunTrust Bank.

Headquartered in South Boston (VA), Hilden is a luxury linen provider to high-end hotels and restaurants and specializes in long staple, Egyptian cotton bed, table and bath linen, as well as terry towels, robes and slippers. Customers include the Sun Valley Company, The Greenbrier, The Breakers, The Homestead, the Inn at Little Washington and the Pebble Beach Company. This transaction will allow Hilden to strengthen working capital resources and solidly position the Company for future growth.

Hilden, a well known name in textiles, was founded in 1874 and was previously a privately-owned family business. As a subsidiary of British textile manufacturer Hilden Manufacturing, Hilden America was established as a direct presence in the United States in 1989 through the acquisition of Halifax Cotton Mills. In 2006, investors including the Company's current CEO Russell Basch, purchased this US division.

Pine Creek is very pleased to have partnered with proven executive and CEO Russell Basch who has overseen solid revenue growth and margin expansion during his tenure at Hilden. Mr. Basch will own a significant amount of the business going forward.

“This infusion of capital and talent will provide tremendous opportunities for Hilden,” said Basch. “We will be able to even better offer our customers the right products on time with a continued focus on excellent quality, delivery and prices. Moreover, this transaction will enable Hilden to continue to grow organically and via acquisitions.”

Must ReadView All

Textiles | On 28th Apr 2017

Fix 5% GST rate for textile goods: Textile bodies

Uniform levy of 5 per cent Goods and Services Tax (GST) on all...

Textiles | On 28th Apr 2017

India lifts CVD imposed on Nepali Jute goods

The countervailing duty (CVD) that was imposed on Nepali jute...

Courtesy: Williamsburg Garment Company

Fashion | On 28th Apr 2017

'We have grown by staying small & maximising efforts'

The easiest way to go out of business is to be too big or expand too...

Interviews View All

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Paolo Ocleppo
Sandvik Hyperion

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

Steve Cole
Xerium Technologies

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

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Robert Brunner
Devereux

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

Ritu Kumar
Label Ritu Kumar

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

Silvia Venturini Fendi
Fendi s.r.l

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

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