Private equity-backed American & Efird Global LP is buying Gutermann Holding SE’s industrial and consumer thread business for an undisclosed amount.

Gutermann, headquartered in Gutach, Germany, manufactures high-quality sewing thread products for consumer and industrial use. The products serve the apparel, shoes, leather goods, work wear, home textiles and automotive markets. The company has manufacturing facilities in Germany, Spain, Mexico and India.

Mt. Holly, North Carolina-based American & Efird manufactures industrial and consumer sewing threat, embroidery thread and other textiles. The thread is used for clothes, cars, home furnishings, medical supplies, footwear and other products. The company has 22 manufacturing facilities.

Private equity firm KPS Capital Partners LP bought American & Efird in November 2011 from Harris Teeter Supermarkets Inc.  The firm has about $5.9 billion in assets under management, and generally makes control investments in manufacturing companies. In April, the firm bought Anchor Glass Container Corp.for an undisclosed amount. Also in April, KPS agreed to buy Electrical Components International Inc.

Hengeler Mueller is KPS and American & Efird's legal counsel on the deal. Merrill Lynch, Pierce Fenner & Smith Inc., Wells Fargo Securities LLC and PNC Capital Markets LLC are acting as joint lead arrangers for the deal's financing.




 

Financial services industry