Monomoy Capital Partners and Kingsmoor scoop PCCA

Monomoy Capital Partners and Kingsmoor are to acquire the denim manufacturing operations of Plains Cotton Cooperative Association. Terms of the transaction were not disclosed.

PRESS RELEASE

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.

“We thank our friends at PCCA for the extraordinary amount of effort they have put into completing this complex transaction”

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.

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