Mon, 09/06/2014 - 10:03
Monomoy Capital Partners and Kingsmoor have teamed up to acquire the denim manufacturing operations of Plains Cotton Cooperative Association (PCCA) through American Textile Holdings (AmTex), a newly-created acquisition vehicle.
Terms of the transaction have not been disclosed.
AmTex is a designer and manufacturer of both denim fabric and denim apparel products. The company converts raw cotton into denim fabric at the ACG textile mill located in Littlefield, Texas and converts denim fabric into finished jeans at the Denimatrix cut, sew and laundry operation located in Guatemala City, Guatemala. AmTex employs over 2,400 associates at its two facilities and runs one the largest denim manufacturing operations in the Western Hemisphere.
“We are excited to create AmTex and purchase these impressive denim assets in Texas and Guatemala,” says Robert Fowler, a partner at Kingsmoor and the new chief executive officer of AmTex. “Denimatrix and ACG offer their customers unsurpassed quality, value and proximity in a denim manufacturing sector that is currently migrating from Asia to the Americas. With our partners at Monomoy, we will expand the company’s capabilities and work with our customers to bring fashion-forward products to market through the most efficient supply chain in the industry.”
The transaction with PCCA will allow AmTex to operate as a standalone business focused exclusively on development, fabrication and sales in the denim sector.
“We thank our friends at PCCA for the extraordinary amount of effort they have put into completing this complex transaction,” says Eric Ceresnie of Monomoy Capital Partners. “We look forward to working with the PCCA team over the next few months as we transition AmTex to an independent, entrepreneurial enterprise.”
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