Daily News: June 17, 2014

Merrill Lynch Leads KPS Capital Acquisition Financing

KPS Capital Partners announced that its portfolio company American & Efird Global will acquire all of Gütermann Holding SE’s global industrial and consumer thread business.

Hengeler Mueller is serving as legal counsel to KPS and A&E. Financing for the transaction will be provided by a syndicate of banks led by Merrill Lynch, Pierce, Fenner & Smith, along with Wells Fargo Securities, and PNC Capital Markets acting as joint lead arrangers.

The transaction was approved by the stockholders of Gütermann on June 14, 2014, but is still subject to customary closing conditions. Financial terms of the transaction were not disclosed.

Fred Jackson, CEO of A&E, said, “The acquisition of Gütermann is a critical strategic step in the growth of A&E. We are very impressed with Gütermann’s diverse product portfolio, customer base, premium quality and technical capabilities. Gütermann’s strong market position in Europe coupled with A&E’s worldwide manufacturing and distribution footprint and strong brand recognition in North America and Asia is an ideal combination.”

A&E is a manufacturer and distributor of industrial and consumer sewing thread, embroidery thread and technical textiles.

Gütermann is a manufacturer and distributor of sewing thread products for consumer and industrial applications.