American & Efird to buy majority of Vardhman Yarns and Threads

American & Efird, a portfolio company of KPS Capital Partners LP, has acquired a majority of Vardhman Yarns and Threads Ltd. The seller was its joint venture partner Vardhman Textiles Ltd. Once the deal closes, A&E will own 89 percent of the joint venture while Vardham will have 11 percent. Vardhman Yarns, of India, makes and distributes industrial and consumer sewing thread. McGuireWoods LLP and J.Sagar Associates served as legal counsel to A&E.

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