LOS ANGELES—Platinum Equity unveils plans to acquire American & Efird (A&E) from investment company KPS Capital Partners. Platinum says it has signed a definitive agreement with KPS.
The Mount Holly, North Carolina-based A&E specializes in the large-scale manufacture of industrial- and consumer-grade sewing thread. The company’s thread is used in a wide variety of products such as apparel, automotive components, home goods, and footwear.
“This is exciting news for our company and our customers,” says Les Miller, CEO of A&E. “Platinum Equity’s financial support, M&A capabilities, textile experience, and global operational expertise will help accelerate our next phase of growth and expansion.”
While Platinum’s portfolio spans industries such as transportation, logistics, and packaging, the company also owns operations in textile and apparel manufacturing.
“A&E is a well-respected global supplier with exceptional technology, dedicated employees, and the best products in the industry,” states Jacob Kotzubei, Platinum equity partner. “The company has established a diverse footprint with global reach, strong brands, and a proven track record of profitable growth.”
Platinum expects the transaction to close in the second quarter of 2018. Financial terms of the agreement were not disclosed.
For more information, visit www.amefird.com/.