Press

press picture

June 9, 2014

Monomoy Capital Partners and Kingsmoor LLC Acquire the Denim Manufacturing Division of The Plains Cotton Cooperative Association

Download a PDF of this story.

-- Creates the Premier Denim Fabric and Garment
Operation in the Western Hemisphere--
 
NEW YORK, NY – June 6, 2014 – Monomoy Capital Partners, a New York private equity fund focused on value investing and business improvement, and Kingsmoor  LLC, an investment company with extensive operational and apparel experience, announced today that they have teamed up to acquire the denim manufacturing operations of Plains Cotton Cooperative Association (PCCA) through American Textile Holdings, LLC. (“AmTex”), a newly-created acquisition vehicle. Terms of the transaction were not disclosed.

AmTex is a leading 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,” said 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.”

Today’s transaction with PCCA will allow AmTex to operate as a standalone business focused exclusively on innovative 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,” said 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.”

Monomoy made its investment in AmTex through its second fund vehicle, Monomoy Capital Partners II, L.P.  Kevin Morris from Kirkland &Ellis, LLP and Rodolfo Alegría from Carrillo & Asocidos provided legal counsel for the transaction. The Pine Hill Group and KPMG performed financial, accounting and tax diligence for Monomoy and Kingsmoor. Kingsmoor and its network of apparel experts provided industry insight through the acquisition process.
 
About Monomoy Capital Partners
 
Monomoy Capital Partners is a private equity firm with $700 million in committed capital that makes control equity investments in middle market businesses in the manufacturing, distribution, consumer product and foodservice industries. Over the past five years, Monomoy has closed over 40 middle market acquisitions, and its portfolio companies generate over $1.3 billion in combined sales and employ more than 6,000 people across four continents.  Monomoy implements customized business improvement programs in its portfolio companies that reduce operating expenses, increase profitability and encourage profitable growth. 
Please visit www.mcpfunds.com for a detailed description of Monomoy and its portfolio.
 
About Kingsmoor LLC
 
Kingsmoor has created significant value investing in, operating and building companies across a broad range of industries.  The Kingsmoor partners have completed the acquisition of over 100 businesses with a combined enterprise value of over $3 billion.  Kingsmoor brings deep operational experience to each of its investments and has experience in building value through proven performance improvement practices, organic growth and add-on acquisitions.

 
#  #  #
 
Media Contact:
Erica Bartsch
Sloane & Company
(212) 486-9500
ebartsch@sloanepr.com

Archive: 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2005

IN THE NEWS

April 27, 2012
Little Private Equity Firm Gets a Big Spotlight
Monomoy Capital Partners, the mid-market private equity firm whose work at Oneida, the flatware giant, was featured in DealBook in January, is quickly becoming the most popular private equity firm in town.

April 26, 2012
My Life in Private Equity
Inside the weirdly obsessive, suprisingly creative world of a corporate efficiency expert.

February 10, 2011
Faith in the system
Monomoy Capital Partners, which recently closed its second fund on more than $400m, has developed a unique system as part of its turnarounds of struggling companies that borrows heavily from Japanese business philosophies.

September 14, 2009
Everything Must Go
Despite the cheerless news, several investors anticipate even more bankruptcies and the shuttering of plants.

June 1, 2009
Icing On The Cake: Hilco, Monomoy Order Dessert
Monomoy Capital Partners Principal Dan Collin tried, but couldn’t exactly sample every product that his firm’s newest add-on company makes....

March 30, 2009
NY Shop Forges Auto Parts Niche Platform
Monomoy Capital Partners is fast at working carving out a niche for itself in teh beleagured auto parts industry. The New York-based fim has now coralled its fourth add-on for Compass Automotive Group Inc., a company it's using as a platform to roll-up businesses in teh auto-related aluminium casting industry…

March 18, 2009
Monomoy adds on to automotive platform

PRESS RELEASES

June 9, 2014
Monomoy Capital Partners and Kingsmoor LLC Acquire the Denim Manufacturing Division of The Plains Cotton Cooperative Association

December 3, 2013
Monomoy Capital Partners Sells Heat Transfer Products Group, LLC

October 24, 2013
Monomoy Capital Partners Sells High Performance Industries, Inc.

October 7, 2013
Monomoy Capital Partners Acquires Escort Inc.

May 21, 2013
EveryWare Global, Inc. and ROI Acquisition Corp. Complete Business Combination

January 31, 2013
EveryWare Global, Inc. and ROI Acquisition Corp. Announce Execution of Merger Agreement

November 29, 2012
Monomoy Capital Partners Acquires MPI from Revstone Industries