Southern Mills was a large, profitable specialty textile manufacturer and represented one of the largest family-owned businesses in Georgia.
The Company was facing increasing competition from larger domestic manufacturers as well as inexpensive Asian imports. Due to the Seller’s concern about confidentiality, Brookwood was engaged to run a limited process involving a select number of potential strategic buyers, with a Dutch-based multinational specialty textile producer eventually submitting the winning bid.
Engagement Process and Outcomes
Customized Positioning & Sales Process – Brookwood conducted thorough due diligence and assisted the Company in recasting results to a form that presented the Company in the best light with buyers. Brookwood developed a customized sales process that met the Company’s confidentiality needs but provided the buyers with enough information to receive firm offers.
Foreign Buyer – Royal Ten Cate nv, a Dutch-based multinational specialty textile producer was the winning bidder, and Brookwood navigated the Company through the complex foreign approval process.
Excellent Result – The transaction resulted in a very high multiple for a textile manufacturer.