Scovill Fasteners sold to Morito

The Gores Group, a Los Angeles, Calif.-based investment firm, has sold Scovill Fasteners of Clarkesville, Ga., to Morito, the world’s second-largest supplier of metal clothing fasteners, based in Osaka, Japan. Morito is also a global supplier of components for automobiles, cameras and other niche manufactured products. Founded in 1802, Scovill is a leading manufacturer of apparel fasteners and specialty fasteners serving customers in end markets including apparel, medical, military and sporting goods. The Gores Group acquired the company in 2011, refocusing its resources and pursuing global growth following an economic downturn. Through a focus on continuous improvement, customer experience and global collaboration, Scovill provides high-quality service from fastener design and delivery to application. The company will operate as a subsidiary of Morito.