Perfect Fit Acquired by Anderson Group
June 25, 2010,
CHARLOTTE, N.C.-Perfect Fit Industries has been purchased by The Anderson Group, a private-equity firm based in Bloomfield Hills, Mich.
The purchase price was not disclosed. The acquisition, which an Anderson Group statement described as an "asset sale/purchase," was accomplished by an entity called Perfect Fit Industries LLC, created by The Anderson Group for the purpose of this transaction.
Jeff Chilton, senior vice president of sales and marketing for Perfect Fit, has become the company's president, succeeding David Kennedy, who has left the company to pursue other interests. Kennedy was also a co-owner with Lou Morris.
Marc Schechter of The Anderson Group has been named chief executive officer, succeeding Morris, who is retiring.
The statement said Anderson Group plans to operate Perfect Fit as "platform for various growth initiatives."
Chilton said, "For a long time, (Perfect Fit) has been constrained by financial issues. Now, with a new infusion of capital and Anderson's aggressive growth strategies, all of us are highly energized."
Founded 78 years ago, Perfect Fit has manufacturing facilities in North Carolina, New Hampshire, Indiana and California.