Special Situations/Distressed • Apparel/Textiles

Cerberus Capital Management Acquires Guilford Performance Textiles

On February 28, 2004, asset manager Cerberus Capital Management acquired apparel/textiles company Guilford Performance Textiles

Acquisition Context
  • This is Cerberus Capital Management’s 1st transaction in the Apparel/Textiles sector.
  • This is Cerberus Capital Management’s 3rd transaction in the United States.
  • This is Cerberus Capital Management’s 1st transaction in North Carolina.
Investment Fate
  • Guilford Performance Textiles was sold to a publicly-traded strategic buyer in 2012 for 257M USD.

Explore All 40 Special Situations/Distressed Apparel/Textiles Deals - Search the Database Free


M&A Deal Summary

Date February 28, 2004
Target Guilford Performance Textiles
Sector Apparel/Textiles
Buyer(s) Cerberus Capital Management
Deal Type Special Situations/Distressed

Target Company

Guilford Performance Textiles

Wilmington, North Carolina, United States
Guilford Mills designs, develops, and manufactures fabrics and engineered products. The company offers automotive body cloth products and textiles for overhead systems, technical textiles and specialty fibers in North America and Europe.
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Buyer Overview 1

Buyer

Cerberus Capital Management

New York, New York, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1992
PE ASSETS 55.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Cerberus Capital Management is a private investment firm that targets a wide range of global investments. Cerberus primarily looks for undervalued or distressed situations. Industry sectors of interest include aerospace and defense, apparel, automotive and industrial, building products, commercial services, consumer and retail, financial services, healthcare, manufacturing and distribution, paper, packaging, and printing, real estate, technology, telecommunications, transportation, and travel. In addition to private equity investing, Cerberus also provides corporate credit and acquires real estate. Cerberus was formed in 1992 by Steve Feinberg and is based in New York City.


Deal Context for Buyer #
Overall 4 of 93
Sector: Apparel/Textiles 1 of 3
Type: Special Situations/Distressed 1 of 13
State: North Carolina 1 of 4
Country: United States 3 of 68
Year: 2004 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-01 AerCap

Dublin, Ireland

AerCap is the largest owner of commercial aircraft in the world and the most active aircraft trader. The company offers aircraft asset management services, such as remarketing aircraft; collecting rental and maintenance rent payments, monitoring aircraft maintenance, monitoring and enforcing contract compliance, and accepting delivery and redelivery of aircraft; and conducting ongoing lessee financial performance reviews. AerCap was incorporated in 1995 and is based in Dublin, Ireland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-03-31 Showa Jisho Co.

Tokyo, Japan

Showa Jisho is a company whose main business is to introduce the buying and selling, leasing, management, etc. of local real estate, centering on the Keio Line. Showa Jisho was founded in 1979 and is based in Tokyo, Japan.

Buy -