LBC Credit Partners Supports Purchase of Frontier Spinning Mills by American Securities LLC

Mar 18, 2014
Deal announcements

Frontier Spinning Mills Holding Corp. ("Frontier") is one of the largest U.S.-based producers of cotton and cotton/polyester blend yarns for the knitting and weaving industries, and holds market leading positions in open-end spinning. Offering a diverse product line, Frontier operates five spinning facilities in North Carolina and Alabama and has 1,076 employees.

In partnership with management, American Securities LLC ("American Securities") acquired Frontier. American Securities is a leading U.S. private equity firm that invests in market-leading North American companies with annual revenues generally ranging from $500 million to $2 billion.

As a prior lender to Frontier, LBC was in a unique position to help deliver a successful transaction. As Term Loan Agent, LBC led a new $80 million senior secured term loan to support American Securities' purchase of Frontier and refinance existing indebtedness.