M&A Deal Summary

Duvaltex Acquires True Textiles

On February 12, 2016, Duvaltex acquired apparel/textiles company True Textiles from Sun Capital Partners

Acquisition Highlights
  • This is Duvaltex’s 1st transaction in the Apparel/Textiles sector.
  • This is Duvaltex’s 1st transaction in the United States.
  • This is Duvaltex’s 1st transaction in Michigan.

M&A Deal Summary

Date 2016-02-12
Target True Textiles
Sector Apparel/Textiles
Buyer(s) Duvaltex
Sellers(s) Sun Capital Partners
Deal Type Add-on Acquisition
Advisor(s) SSG Capital Advisors (Financial)

Target

True Textiles

Grand Rapids, Michigan, United States
True Textiles, Inc. is a commercial contract manufacturer of interior fabrics and upholstery product for the office furniture industry, as well as a leading provider of specialized environmentally-friendly fabrics for automotive, healthcare, and hospitality solutions.

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Buyer(S) 1

Buyer

Duvaltex

Quebec City, Quebec, Canada

Category Company
Founded 1947
Sector Apparel/Textiles
DESCRIPTION

Duvaltex, Inc. is a textile company with four business units that serve the office, hospitality, education, and healthcare markets.


DEAL STATS #
Overall 1 of 1
Sector (Apparel/Textiles) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Michigan) 1 of 1
Country (United States) 1 of 1
Year (2016) 1 of 1

Seller(S) 1

SELLER

Sun Capital Partners

Boca Raton, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 13.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Sun Capital's corporate headquarters in Boca Raton, Florida.
Sun Capital's corporate headquarters in Boca Raton, Florida.

Sun Capital Partners is a large private equity firm focused on leveraged buyouts, equity, debt, and other control investments in North America, Asia, and Europe. Sun looks for businesses that can benefit from the Firm's operating experience including underperformers, turnarounds, and special situations. Target companies typically have $50 million to $1 billion in revenue with strong market positions. Sectors of interest include paper and packaging, food and beverages, metals and mining, automotive after-market parts, consumer products, financial services, healthcare, media and communications, building products, telecommunications, technology, retailing and catalogs, restaurants, manufacturing and industrial. Sun Capital was formed in 1995 and is based in Boca Raton, Florida.


DEAL STATS #
Overall 74 of 127
Sector (Apparel/Textiles) 5 of 9
Type (Add-on Acquisition) 28 of 53
State (Michigan) 4 of 6
Country (United States) 53 of 88
Year (2016) 1 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-11 FFO Home

Fort Smith, Arkansas, United States

Furniture Factory Outlet (FFO Home) is a furniture retailer that provided the lowest prices to our customers day-in-and-day-out. The company operates 36 retail stores in Arkansas, Missouri, Oklahoma, and Kansas. FFO Home also manufactures bedding under the Comfort Coil and Natural Elements brands. The retailer offers superior value products priced below the competition and distinguishes itself by eschewing the showroom distribution model and allowing consumers to purchase products immediately from on-site inventory. FFO Home was founded in 1984 and is headquartered in Fort Smith, Arkansas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-11 POP Displays

Yonkers, New York, United States

POP Displays is an integrated manufacturer of point-of-purchase displays focused primarily on permanent displays in cosmetics and electronics for mass channel retailers. POP designs and manufactures plastic molded cosmetics wall units, category management solutions, counter units, floor stands, kiosks, testers, and window displays and is involved in all phases of product design, production, and distribution. POP Displays was founded in 1953 and is based in Yonkers, New York.

Sell -