Riverside Manufacturing to be taken private
US industrial workwear maker Riverside Manufacturing Company is to be sold to private equity firm Resilience Capital Partners for an undisclosed sum.
Riverside is Resilience's first add-on acquisition by its Affinity Specialty Apparel investment platform, which it acquired in December last year.
Affinity Apparel sells and distributes occupational apparel and services through managed direct purchase uniform programmes. Financial terms of the deal were not disclosed.
The move comes three months after Riverside put its sewing equipment, parts, fabrics and apparel worth millions of dollars up for auction, following the company's decision to close its US sewing, cutting and warehousing operations in Georgia.
"Acquiring Riverside, with its tremendous position in the protective apparel marketplace, strengthens our competitive position in the direct sale uniform business and takes us one step closer to our long term objective of creating an industry leader in the sector," said Affinity Apparel CEO Michael DiMino.
- Traditional financing is a misfit for fast fashion
- Why do modern robotics elude sportswear makers?
- Trump trade policy – Who knows what he'll do?
- Planning is key to an effective inventory strategy
- How would end of NAFTA affect US apparel industry?
- US Q3 in brief - G-III Apparel, Express
- Bagir exports first trousers for H&M from Ethiopia
- Film documents Cambodia garment workers' stories
- Esquel efficiency drive continues to boost brands
- Pakistan suspends India cotton imports
- Outdoor performance apparel 2016: A broader perspective
- Global market review of lingerie – forecasts to 2022
- Global apparel markets: product developments and innovations, October 2016
- Footwear Top 5 Emerging Markets Industry Guide_2016
- REPORT BUNDLE: Africa-Med, Southeast Asia and Central America strategic sourcing pack