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Sun Capital in talks to sell Frontier Spinning Mills to American Securities

12 Dec 2013

cotton grassUS private equity firm Sun Capital Partners is reportedly in talks with fellow buyout house American Securities over the sale of the former’s cotton yarn business Frontier Spinning Mills.

Sun recapitalised the company in 2008, and is primed for an exit after the company successfully rode out the financial crisis according to Dow Jones, which cited a person briefed on the talks.

Frontier Spinning is one of the world’s largest producers of spun yarns for the knitting and weaving industries, with its products being used in sportswear, underwear, socks, sweaters, denim and home furnishings.

Sun Capital is currently looking for strong exits as it attempts to boost fundraising for its latest flagship vehicle, which had raised just over half of its $3bn target for its latest fund in mid-October.

The firm had initially hoped to close the vehicle before the end of last year.

It was buoyed last week through its agreement to sell Captain D’s Seafood Restaurant to mid-market firm Centre Partners in a deal reported to make it eight-times its initial investment.

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