Polyconcept owner Investcorp Exploring Sale of Polyconcept
May 2016 – According to a Reuters report, Investment firm Investcorp Bank, owner of Polyconcept, is exploring the possibilities of a sale of Polyconept hoping a deal will value the world’s largest supplier of promotional products at more than $1.3 billion, including debt, according to people familiar with the matter.
Bahrain-based Investcorp is working with investment banks William Blair & Company LLC and Barclays Plc in the auction for Polyconcept, which is currently in its second round of bidding and has attracted interest from private equity firms, the people said this week. Polyconcept has 12-month earnings before interest, tax, depreciation and amortization of close to $130 million, the people added.
Based in Roelofarendsveen, Holland, Polyconcept was was taken control of by Investcorp following a buyout from firm BC Partners Ltd in 2005.
Gildan Donates to Relief Efforts for Fort McMurray Fire Victims
May 2016 – Gildan announced that it is donating a large collection of clothing items, including t-shirts, underwear and socks, to the evacuees of the Fort McMurray fires. The donation, with a retail value of more than $400,000 is being made to the Edmonton Emergency Relief Services Society (EERSS) which has established the necessary infrastructure to receive the shipment and deliver the items to the people displaced by the devastating forest fires. (more…)