un Capital affiliate buys Frontier Spinning Mills
Source: Sun Capital Partners Inc Date: 2008-03-25
Sun Capital Partners Inc announced that one of its affiliates has made an investment in Frontier Spinning Mills Inc (Frontier), a leading producer of cotton and polyester/cotton blend yarns. Terms of the acquisition were not disclosed.
Frontier Spinning Mills is one of the world’s largest producers of spun yarns for the knitting and weaving industries and holds market leading positions in open-end spinning. Offering a diverse product line to fulfill the demands of customers worldwide, Frontier applies state-of-the-art automated technology and innovation to every phase of its yarn manufacturing process. Yarn produced by Frontier is used in sportswear, undergarments, socks, sweaters, fleece, denim, and home furnishings.
George R. Perkins, Jr., CEO and Chairman, Frontier Spinning Mills Inc, said, “We are pleased to partner with an affiliate of Sun Capital, a financial sponsor with substantial operating resources and expertise in the textile and manufacturing sectors. Frontier has enjoyed long-standing relationships with its very valued customers, and now, with an equity sponsor, we will be able to better execute on our strategic plans to expand our geographic footprint and add value to our stakeholders.”
Aaron P. Wolfe, Vice President, Sun Capital Partners Inc, added, “We are excited to partner with George Perkins and Frontier’s management team in the Company’s recapitalization. We believe that Frontier is ideally positioned to continue to provide the highest quality products with the best customer services. We look forward to working with Frontier as it continues to expand its business.”
