Rob Gieser
Verasolve
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Will Marshall
Verasolve
(202) 552-9569
Blackstreet Capital Acquires Swift Spinning, Inc.
Columbus, GA, May XX, 2007 – Blackstreet Capital, a Bethesda, MD-based private equity fund, has purchased Swift Spinning, Inc. (Swift) from Marubeni Corporation of Tokyo, Japan. Founded in 1906, Swift is recognized as a world class leader in quality cotton yarns and currently operates the most automated combed ring mill in the United States.
Since its founding, Swift has earned a reputation for producing high quality combed cotton yarns for knitting, weaving and hosiery customers. The company’s yarns are in products that carry the label of Ralph Lauren Polo, Liz Claiborne, J.C. Penney, Sears, Mervyns, Tommy Hilfiger, Gold Toe, Land’s End, L.L Bean, Eddie Bauer among others.
"This transaction is an important milestone in the company’s long operating history, said Ric Miller, Chairman of Swift Spinning. Under new ownership, we see an opportunity to strengthen our position as a world class leader in quality cotton yarns.”
Murry N. Gunty, Managing Partner of Blackstreet Capital said, “We are thrilled to complete the purchase of Swift Spinning and excited about the future of the company.”
About Blackstreet Capital
Blackstreet Capital Management, LLC (www.blackstreetcapital.com) is a Bethesda, MD based private equity firm with $88 million of capital under management. Blackstreet focuses on control buyouts of companies that are either underperforming, in out-of-favor industries or are undergoing some form of transition. Blackstreet seeks investments in a range of industries, including manufacturing/distribution, restaurants, specialty retail, business services and health care.
About Swift Spinning, Inc.
Founded in 1906, Swift Spinning, Inc. (www.swiftspinning.com) is a Columbus, GA-based manufacturer of award-winning high quality cotton yarn. The company’s yarns are in products that carry the label of Ralph Lauren Polo, Liz Claiborne, J.C. Penney, Sears, Mervyns, Tommy Hilfiger, Gold Toe, Land’s End, L.L Bean, Eddie Bauer among others.