Elevate Textiles
A privately held global textile manufacturer and owner of brands serving apparel, denim, home, automotive safety, and industrial-material markets.
Last updated November 4, 2026
AI crawler reads
No AI crawler has read this profile since Oct 28, 2026.
Overview
Elevate Textiles is a privately held textile manufacturing group headquartered in Charlotte, North Carolina. The company owns and operates a portfolio of established textile businesses, including American & Efird, Burlington, Cone Denim, Gütermann, and Safety Components. Its products are supplied primarily as materials and components to other businesses rather than sold directly to consumers under a single unified retail brand. The portfolio spans apparel fabrics, denim, sewing thread, interior and home textiles, performance materials, automotive airbag fabrics, and other industrial applications. The group’s corporate history begins with the acquisition and combination of distressed American textile assets by Wilbur Ross and WL Ross & Co. In late 2003, WL Ross acquired the assets of Burlington Industries after the company’s bankruptcy. The purchase followed a bidding contest in which WL Ross outbid Warren Buffett’s Berkshire Hathaway, whose reported offer was $579 million; WL Ross’s reported acquisition price was $620 million. In 2004, the Burlington assets were combined with the former Cone Mills business to create International Textile Group, commonly known as ITG. The combination brought together two historically important American textile operations and gave the new company substantial positions in apparel fabrics, denim, wool, and related materials. ITG expanded through additional acquisitions and international manufacturing. It acquired control of Safety Components International, a producer of nylon fabrics and other materials used in automotive airbags and industrial safety applications. It also added BST Safety Textiles, a German manufacturer of airbag fabrics, one-piece-woven airbag materials, seat-belt webbing, and industrial narrow fabrics. These transactions broadened the group beyond traditional apparel textiles into highly technical automotive and industrial products. During the 2000s, the company also pursued manufacturing and sourcing activity in China, Vietnam, Central America, Mexico, Europe, and other textile-producing regions. The company’s history also reflects the restructuring pressures that affected the United States textile industry. ITG sold the trademark rights for the Burlington men’s clothing and accessories business to German fashion company Falke in 2008, while retaining textile manufacturing activities associated with the broader Burlington portfolio. Its White Oak denim mill in Greensboro, North Carolina, announced layoffs in 2009 and ultimately closed on December 31, 2017, ending more than a century of operation at that facility. The company’s automotive safety operations also experienced financial stress during the late-2000s downturn; its airbag unit filed for bankruptcy in 2009 and was taken over by secured creditors. Platinum Equity acquired International Textile Group in 2016. In 2018, Platinum acquired American & Efird, a major thread manufacturer headquartered in North Carolina. In 2019, Platinum consolidated ITG, American & Efird, and other textile and materials businesses under the Elevate Textiles name. The rebranding signaled a broader materials platform rather than a single heritage textile mill or apparel-fabric company. Elevate’s portfolio now combines branded and technical textile capabilities, with products used by apparel companies, automotive safety suppliers, uniform and performance-wear makers, home-furnishing businesses, and industrial customers. Elevate’s business model is primarily business-to-business. Its brands and operating companies provide fabrics, thread, and engineered textile components that are incorporated into finished garments, vehicles, interiors, safety systems, and industrial products. The group’s best-known capabilities include denim through Cone Denim; apparel and interior fabrics through Burlington; sewing thread through American & Efird and Gütermann; and automotive safety textiles through Safety Components. Publicly available reference material…
History
Elevate Textiles developed from a series of acquisitions of American and international textile businesses assembled by Wilbur Ross and WL Ross & Co. The immediate predecessor was International Textile Group, created in 2004 after WL Ross acquired the assets of Burlington Industries out of bankruptcy and combined them with the former Cone Mills business. Burlington was purchased after a competitive bidding process; the reported transaction value was $620 million, exceeding a $579 million offer associated with Warren Buffett. The resulting group retained important positions in American apparel textiles and denim while pursuing geographic expansion. Its operations and sourcing activities extended into North America, Asia, Central America, and Europe. Cone Denim became associated with denim fabrics supplied to apparel companies, while Burlington continued to represent apparel, wool, and interior-fabric capabilities. The group also developed technical textile operations serving automotive and industrial customers. In 2005, WL Ross acquired a 77.3 percent interest in Safety Components International for a reported $51.2 million. Because Ross controlled both Safety Components and International Textile Group, ITG announced an acquisition of Safety Components in 2006. Safety Components manufactured nylon fabrics used in automotive airbag systems. The group further expanded its automotive-safety position through the acquisition of BST Safety Textiles, formerly Berger Safety Textiles, whose products included flat airbag fabric, one-piece-woven airbag material, seat-belt webbing, and industrial narrow fabric. BST operated in Germany, Poland, and the United States and employed more than 1,200 people according to the historical reference material. ITG’s expansion was accompanied by restructuring and portfolio changes. In 2007, it sold its mattress-fabric product line to Culp and pursued textile manufacturing or development activity in China and Vietnam. The company opened a China mill intended to develop apparel and interior fabrics, while a Nicaragua operation later ceased production. In 2008, ITG sold trademark rights for Burlington men’s clothing and accessories to Falke, a German fashion company. This transaction distinguished the consumer-facing Burlington apparel trademark rights from ITG’s continuing textile manufacturing businesses. The late 2000s brought substantial pressure to the group and the wider American textile industry. ITG announced layoffs at its Greensboro White Oak denim mill in 2009, and its airbag unit entered bankruptcy proceedings during the summer of that year before being taken over by secured creditors. The White Oak mill eventually closed at the end of 2017 after operating for approximately 110 years. These events illustrate the shift from vertically integrated domestic textile production toward a more geographically distributed and specialized model. In 2014, Wilbur Ross paid $81 million to settle a shareholder lawsuit alleging that he breached fiduciary duties when structuring the Safety Components merger. The settlement was a significant corporate-governance event in the predecessor company’s history, although it did not establish a criminal finding. In 2016, Platinum Equity acquired International Textile Group. Platinum subsequently acquired American & Efird in 2018 and combined that business with ITG and other fabric and materials manufacturers. The consolidated organization adopted the Elevate Textiles name in 2019. Under the Elevate identity, the business is organized around a broad portfolio rather than a single product category. Cone Denim supplies denim; Burlington serves apparel and interior-fabric markets; American & Efird and Gütermann provide thread; and Safety Components supplies automotive and industrial safety textiles. The company’s products are generally sold through business-to-business channels and incorporated into garments, vehicles, interiors, safety systems, and industrial goods. The company’s global headquarters are in Charlotte, North Carolina. Jeffrey P. Pritchett became chief executive officer in April 2024.
- 2024
Jeffrey P. Pritchett becomes CEO
[1]Jeffrey P. Pritchett assumed the chief executive role on April 23.
- 2019
Elevate Textiles is established
[1]International Textile Group, American & Efird, and other related businesses were consolidated and renamed Elevate Textiles.
- 2018
American & Efird is acquired
[1]Platinum Equity acquired American & Efird, adding a major thread manufacturer to its textile portfolio.
- 2017
White Oak mill closes
[1]The White Oak denim mill in Greensboro closed on December 31 after more than 100 years of operation.
- 2016
Platinum Equity acquires ITG
[1]Private-equity firm Platinum Equity acquired International Textile Group.
- 2008
Burlington apparel trademark rights are sold
[1]ITG sold trademark rights for Burlington men’s clothing and accessories to Falke while continuing its textile manufacturing activities.
- 2006
Safety Components joins ITG
[1]International Textile Group acquired Safety Components International, expanding into automotive safety textiles.
- 2006
BST Safety Textiles is acquired
[1]BST Safety Textiles, a German producer of airbag fabric, seat-belt webbing, and industrial narrow fabric, became part of the group.
- 2005
WL Ross acquires control of Safety Components International
[1]WL Ross acquired a 77.3 percent interest in Safety Components International, a producer of automotive airbag fabrics.
- 2004
International Textile Group is formed
[1]The Burlington assets were combined with the former Cone Mills business to establish International Textile Group.
Products and positioning
A diversified, technology-oriented business-to-business textile platform combining heritage apparel and denim brands with engineered materials for automotive safety, performance apparel, interiors, and industrial applications. The portfolio emphasizes technical capability, global manufacturing, and long-established textile brands.
Denim fabrics
Cone Denim
Cone Denim is Elevate’s denim-textile business. It produces denim fabrics for apparel manufacturers and has historically supplied materials to brands including Levi’s, Wrangler, and American Eagle Outfitters. Its manufacturing footprint has included the United States, Mexico, China, and Nicaragua at different points in the company’s history.
Apparel and interior fabrics
Burlington
Burlington represents the group’s apparel, wool, and interior-fabric capabilities. Its materials have served clothing and home-related applications, including worsted wool fabrics produced in North America and sourced through international partners. The trademark rights for Burlington men’s clothing and accessories were sold to Falke in 2008, while the textile manufacturing business remained within the predecessor group.
Sewing and industrial thread
American & Efird
American & Efird is a thread manufacturer acquired by Platinum Equity in 2018 and incorporated into the platform that became Elevate Textiles. Its products serve apparel, industrial, and other sewn-product applications. The business complements Elevate’s fabric operations by providing thread and related textile inputs to manufacturing customers.
Sewing thread
Gütermann
Gütermann is a thread brand included in Elevate Textiles’ portfolio. It is associated with sewing-thread products for apparel, consumer sewing, and related textile applications. The available reference material identifies the brand as part of the Elevate group but does not provide a complete current product catalogue.
Automotive and industrial safety textiles
Safety Components
Safety Components supplies engineered nylon and other textile materials used in automotive airbag systems and industrial safety applications. Its historical product range includes airbag fabric and cushion materials, while related operations have also produced seat-belt webbing and narrow fabric for industrial strapping. Customers have included automotive safety-system suppliers such as Autoliv, TRW, and Delphi.
Controversies
2014
Safety Components merger fiduciary-duty lawsuit
A shareholder lawsuit alleged that Wilbur Ross breached fiduciary duties in structuring the merger involving Safety Components International and International Textile Group. Ross paid $81 million to settle the case in 2014. The settlement was a civil corporate-governance matter and the available reference does not describe a criminal conviction.
Brand decisions
2024
Appoint Jeffrey P. Pritchett as CEOOtherBackground
Elevate Textiles continued operating as a privately held global textile group.
Action taken
Jeffrey P. Pritchett became chief executive officer on April 23, 2024.
2019
Rebrand and portfolio consolidationStrategyBackground
Platinum Equity controlled International Textile Group, American & Efird, and other textile and materials businesses.
Action taken
The businesses were consolidated and presented under the Elevate Textiles name.
Aftermath
The new identity positioned the company as a multi-category global textile and engineered-materials platform.
2018
Acquire American & EfirdM&ABackground
Platinum Equity was building a broader textile and materials platform after acquiring International Textile Group.
Action taken
Platinum Equity acquired American & Efird, a North Carolina thread manufacturer.
Aftermath
American & Efird became part of the group consolidated under the Elevate Textiles identity.
2016
Platinum Equity acquisitionM&ABackground
International Textile Group operated as a diversified textile manufacturer following years of acquisitions and restructuring.
Action taken
Platinum Equity acquired International Textile Group.
Aftermath
Platinum later added American & Efird and consolidated the businesses under the Elevate Textiles name.
2008
Sell Burlington men’s apparel trademark rightsStrategyBackground
International Textile Group maintained textile manufacturing operations while the Burlington name also had consumer-facing apparel and accessory rights.
Action taken
ITG sold the trademark rights for Burlington men’s clothing and accessories to Falke.
Aftermath
The transaction separated the consumer apparel trademark rights from ITG’s continuing fabric and materials operations.
2004
Combine Burlington and Cone Mills assetsM&ABackground
WL Ross had acquired Burlington Industries’ assets after bankruptcy and had also acquired the former Cone Mills business.
Action taken
The two textile businesses were combined to create International Textile Group.
Aftermath
The combination formed the corporate predecessor of Elevate Textiles and created a diversified apparel, denim, and technical-textile platform.
Reported Burlington acquisition price. $620 million (Late 2003)
Recent events
- 2024
Jeffrey P. Pritchett becomes chief executive officer[1]
Leadership change
Jeffrey P. Pritchett was appointed chief executive officer of Elevate Textiles on April 23, 2024.
- 2019
International Textile Group changes its name to Elevate Textiles[1]
Leadership change · Other
Platinum Equity consolidated International Textile Group, American & Efird, and related textile and materials businesses under the Elevate Textiles name.
- 2018
American & Efird joins the textile platform[1]
M&A
Platinum Equity acquired North Carolina thread manufacturer American & Efird as part of the expansion that preceded the Elevate Textiles reorganization.
- 2017
White Oak denim mill closes[1]
Other
Elevate predecessor International Textile Group closed the White Oak denim mill in Greensboro, North Carolina, on December 31, 2017, after more than a century of operation.
- 2016
Platinum Equity acquires International Textile Group[1]
M&A
International Textile Group was acquired by private-equity firm Platinum Equity, which later expanded the platform through the purchase of American & Efird.
Sources2 sources
Cite this profile: Cite the canonical profile. /brand-wiki/elevate-textiles · Editorial policy · How profiles are compiled