Frontier Spinning Mills, Inc. has received a substantial capital investment from two leading investment management companies. Affiliates of Cerberus Business Finance and TCW Asset Management Company are providing new capital and operating expertise to support Frontier Spinning and help drive the United States-based company’s future growth. Frontier Spinning operates five state-of-the-art manufacturing facilities in North Carolina and Alabama and employs approximately 1,200 team members. It will continue to be led by Robin Perkins, Frontier Spinning Chief Executive Officer, and the rest of the current management team, as it looks to expand its leading market position in partnership with Cerberus and TCW.
“We are proud of the long-standing relationships we have with our customers and the ability to offer them a high-quality, reliable product supply,” said Perkins. “We are excited to begin our company’s next phase of growth with partners that not only bring exceptional financial acumen, but also substantial industry and operating expertise.”
“Over the past two decades, Frontier Spinning has become an industry-leading business, supported by a portfolio of high-quality products and strong customer relationships. In partnership with the talented team at Frontier Spinning, we look forward to helping the company capitalise on strategic opportunities, while continuing to deliver for their customers every day,” Joseph Naccarato, Chief Operating Officer of Cerberus Business Finance and Senior Managing Director of Cerberus, said.