American Securities Picks Up Frontier Spinning
The target produces cotton yarn for the knitting and weaving industries
Private equity firm American Securities LLC has closed a deal for Frontier Spinning Mills Holding Corp.
Frontier, headquartered in Sanford, N.C., produces cotton yarn for the knitting and weaving industries. Terms of the deal were not disclosed.
American Securities, based in New York, recently sold General Chemical Corp. for $860 million to Chemtrade Logistics Income Fund. (TSX: CHE.UN). http://www.themiddlemarket.com/news/chemtrade-buys-general-chemical-for-860-million-246040-1.html
Frontier was sold by an affiliate of private equity firm Sun Capital Partners Inc. †Sun Capital also recently sold Wabash Technologies, a company that sells powertrain sensors for cars.
Kaye Scholer LLP was American Securities legal counsel for the deal. Wells Fargo Securities LLC acted as Frontierís financial adviser, while Kirkland & Ellis LLP provided legal advice to the company.
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