International Textile Group (ITG) the company created by Wilbur Ross out of Burlington Industries and Cone Denim has been bought by Platinum Equity a global investment firm founded by Tom Gores. Read the press release here…

 

AKC Note:  Apart from the ex Burlington and Cone Denim activities ITG also includes Safety Components and Carlisle Finishing. At this stage it is difficult to predict what view Platinum might have on the businesses going forward and where they see opportunities to build revenue to value the company at a level that encouraged Mr Ross to sell.

Alasdair Carmichael
Carmichael International
PO Box 3444
Spartanburg
SC 29304
T: 864 583 6868
C: 864 542 4481