Sun Capital Affiliate Acquires Frontier Spinning Mills

An affiliate of Boca Raton, Fla.-based private investment firm Sun Capital Partners Inc. has
acquired Sanford, N.C.-based Frontier Spinning Mills Inc., a spinner of cotton and
polyester/cotton-blend yarns used in knit and woven apparel and home furnishings.

Frontier — which has over the last two years acquired Atlanta-based Swift Galey’s denim
spinning operation, merged with Cheraw, S.C.-based Cheraw Yarn Mills and begun a $20 million
expansion at one of its mills in Sanford; and which serves a global customer base — expects the
investment by Sun Capital will enable it to follow its expansion strategy, according to George R.
Perkins Jr., CEO and chairman, Frontier.

“We are pleased to partner with an affiliate of Sun Capital, a financial sponsor with
substantial operating resources and expertise in the textile and manufacturing sectors,” Perkins
said. “Frontier has enjoyed long-standing relationships with its very valued customers, and now,
with an equity sponsor, we will be able to better execute on our strategic plans to expand our
geographic footprint and add value to our stakeholders.”

May/June 2008