Platinum Equity Capital’s Acquisition of American & Efird


Kirkland & Ellis is serving as legal counsel to Platinum Equity on the A&E transaction. Paul, Weiss is representing North Carolina-based thread maker American & Efird (A&E) on the deal

Platinum Equity has signed a definitive agreement to acquire American & Efrid (A&E) from KPS Capital Partners. Financial terms were not disclosed. The transaction is subject to regulatory approval and is expected to close in the second quarter of 2018.

Headquartered in Mt. Holly, North Carolina, 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. A&E thread is used by producers of apparel, automotive components, home furnishings, medical supplies, footwear and certain industrial products.

Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with $13 billion of assets under management and a portfolio of more than 30 operating companies that serve customers around the world. The firm is currently investing from Platinum Equity Capital Partners IV, a $6.5 billion global buyout fund.

The Paul, Weiss team included corporate partners Carl Reisner (Picture), Lawrence Wee and Monica Thurmond and counsel Ji Lu, Nathan Sawyer and Lindsey Wiersma; tax partner David Mayo; real estate partner Peter Fisch; intellectual property partner Claudine Meredith-Goujon; employee benefits partner Robert Fleder and counsel Reuven Falik and Jarrett Hoffman; antitrust counsel Marta Kelly; environmental counsel William O’Brien; international trade counsel Richard Elliott; and litigation counsel Peter Jaffe.

Involved fees earner: Carl Reisner – Paul Weiss Rifkind Wharton & Garrison; Lawrence Wee – Paul Weiss Rifkind Wharton & Garrison; Monica Thurmond – Paul Weiss Rifkind Wharton & Garrison; Ji Lu – Paul Weiss Rifkind Wharton & Garrison; Nathan Sawyer – Paul Weiss Rifkind Wharton & Garrison; Lindsey Wiersma – Paul Weiss Rifkind Wharton & Garrison; David Mayo – Paul Weiss Rifkind Wharton & Garrison; Peter Fisch – Paul Weiss Rifkind Wharton & Garrison; Claudine Meredith-Goujon – Paul Weiss Rifkind Wharton & Garrison; Robert Fleder – Paul Weiss Rifkind Wharton & Garrison; Reuven Falik – Paul Weiss Rifkind Wharton & Garrison; Jarrett Hoffman – Paul Weiss Rifkind Wharton & Garrison; Marta Kelly – Paul Weiss Rifkind Wharton & Garrison; William O’Brien – Paul Weiss Rifkind Wharton & Garrison; Richard Elliott – Paul Weiss Rifkind Wharton & Garrison; Peter Jaffe – Paul Weiss Rifkind Wharton & Garrison;

Law Firms: Paul Weiss Rifkind Wharton & Garrison;

Clients: American & Efird LLC;

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Author: Ambrogio Visconti