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From Home Furnishing Business

American & Efird Global Completes Recapitalization

KPS Capital Partners has completed a recapitalization of its portfolio company American & Efird Global (A&E), which raised approximately $275 million in financing, including a $65 million cash flow revolving credit facility and an approximately $210 million term loan.

A&E is the largest U.S. manufacturer and the world’s second largest manufacturer and distributor of premium quality industrial and consumer sewing thread, embroidery thread and technical textiles for the home furnishings, apparel, automotive components, medical supply, footwear and diversified industrial markets under the A&E and Gutermann brand names. A&E owns and operates 28 manufacturing facilities in 23 countries and employs more than 9,000 associates worldwide directly or in partnership with joint venture partners. 

Following the recapitalization, A&E remains conservatively capitalized with the continued support of its controlling stockholder, KPS Capital Partners, a private equity firm with approximately $5.6 billion of assets under management. 

“A&E’s successful recapitalization validates the incredible transformation A&E has experienced under KPS ownership and we are pleased to return capital to our stockholders,” said Fred Jackson, CEO of A&E. “A&E remains committed to providing the highest levels of product quality, environmental sustainability, technological innovation and customer service. We thank our customers, suppliers and employees for their contributions to our success.”

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