A team of Pillsbury attorneys, led by Northern Virginia senior counsel Ellen Grady, represented Michigan-based Crypton Companies., a supplier of performance textiles, in its acquisition of North Carolina textile mill Abercrombie Textiles. Financial details of the acquisition were not disclosed. In addition to the acquisition, Pillsbury also represented Crypton in various financing activities related to the transaction, including restructuring Abercrombie Textiles’ senior debt and equipment leases.
The Crypton Companies, which include Crypton LLC and Nanotex LLC, provide textiles in contract, home furnishings and apparel markets. The acquisition of Abercrombie Textiles expands Crypton’s product lines vertically to supply the residential, hospitality, outdoor, health care and transportation industries with American-made fabrics.
Abercrombie Textiles operates a 150,000-square-foot facility in Cliffside, North Carolina, which is about 30 miles west of Crypton’s current facility in Kings Mountain. There, Abercrombie performs yarn processing, warping, weaving and finishing.
In addition to Grady, the Pillsbury M&A team included Drew Reitz, David Miller, Peter Hunt, Jeff Knight and Patrick Potter, and the financing team, led by Joel Simon, included Richard Evans, Cecilia Wang and Daniel Welch.