Group Plc headquartered in UK, an Industrial thread manufacturer and a major player in the Americas textile crafts market has acquired US based Patrick Yarn Mill, a manufacturer of high-performance engineered yarns based in North Carolina specializing in cut-resistant and flame retardant yarns.
Coats said that its new acquisition’s unique spinning competencies in engineered performance yarns offer an opportunity to expand its existing Performance Materials portfolio as well as to extend its innovation capability.
The takeover could also boost Patrick’s existing potential with its new owner ready to support its “expansion into high-growth markets by leveraging Coats’ unrivalled geographic footprint, breadth of global customer relationships and strong corporate brand.
Patrick Yarn Mill also produces yarns from recycled fibres marketed under its earthspun trademarks and with its large solar installation promotes its earth friendly yarns as ‘Spun by the Sun’.
Rajiv Sharma, chief executive, Coats said that Patrick Yarn Mill is an exciting acquisition that supports a key aspect of our growth strategy: to identify innovation synergies that build scale in high technology sectors. It is a dynamic, customer focused company and its unique spinning systems combined with their existing technology portfolio will provide a strong market offering.
He also highlighted the yarns giant’s strong track record of successfully integrating bolt-on companies following the acquisitions in 2016 of Gotex and Fast React, both of which “are performing well under Coats’ ownership.â€
Gilbert Patrick, president, Patrick Yarn Mill said that Patrick Yarn Mill becoming part of the Coats family creates many opportunities for both companies as there is a lot of synergy between our product offerings and technology. A key one is being able to leverage Coats’ unrivalled global footprint and strong corporate brand to accelerate market growth, which will benefit not only Patrick Yarn Mill, but also their employees and their community.
The opportunity to collaborate with a market leader in areas such as innovation and R&D is extremely exciting and very positive, not only for Patrick Yarn Mill’s future but also for their customers’ future.â€
The move reflects the increasing importance of both performance yarns and of the eco movement in modern clothing manufacture with Patrick Yarn Mill being a key player in both these areas.
Researchers have created an innovative nanofibre patch that aims to simplify and improve the treatment of psoriasis, a common skin…
Clothing 2.0 has teamed up with The Marena Group LLC, a leader in medical-grade compression garments to transform the recovery…
Polartec has enhanced its Power Shield range, as it continues to replace petroleum-based materials with renewable alternatives while improving fabric…
Biomaterial company, Uncaged Innovations, has collaborated with ten independent fashion brands to launch Elevate, a new eco-friendly luxury leather alternative.
Rudolf introduced the Digital Pigment Printing Toolbox, a package of pre-treatment products to improve the quality and sustainability of pigment…
Aquafil Group, the innovator behind ECONYL regenerated nylon, has launched the ECONYL Bespoke Collection that mimic the aesthetics of natural…