KPS Capital Partners Agrees To Acquire American & Efird, Inc. From Ruddick Corporation
Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to KPS and its affiliates.
About American & Efird, Inc.
American & Efird ("A&E") is one of the world's largest global manufacturers and distributors of industrial sewing thread, embroidery thread and technical textiles, produced from natural and synthetic fibers. Producers of apparel, automotive components, home furnishings, medical supplies and footwear rely on A&E industrial sewing thread to manufacture their products.
A&E, headquartered in Mt. Holly, North Carolina, is the largest U.S. manufacturer and the world's second-largest manufacturer and distributor of premium quality industrial sewing thread, embroidery thread and technical textiles. A&E thread is used by producers of apparel, automotive components, home furnishings, medical supplies, footwear and certain industrial products. A&E owns or operates 23 plants and employs 11,000 associates around the world directly or in partnership with joint venture partners.Customers select A&E as the preferred choice for industrial sewing thread, embroidery thread and technical textiles because of A&E's dedication to providing its customers with the finest products and services, at the highest quality, delivered globally. Learn more about A&E at www.amefird.com. About KPS Capital Partners, LP KPS Capital Partners, LP is the manager of the KPS Special Situations Funds, a family of private equity funds with over $2.7 billion of assets under management focused on constructive investing in restructurings, turnarounds and other special situations. KPS has created new companies to purchase operating assets out of bankruptcy; established stand-alone entities to operate divested assets; and recapitalized highly leveraged public and private companies. The KPS investment strategy targets companies with strong franchises that are experiencing operating and financial problems. KPS invests its capital concurrently with a turnaround plan predicated on cost reduction, capital investment and capital availability. Typically, the KPS turnaround plan is accompanied by a financial restructuring of the company's liabilities. The KPS investment strategy and portfolio companies are described in detail at the firm's website: www.kpsfund.com. SOURCE KPS Capital Partners, LP
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