Smart fabrics company Outlast Technologies has been acquired by private-equity firm Golden Equity Investments.

Outlast develops technology that allows any textile to absorb, store and release heat. Its products respond to changes in skin temperature to manage heat and reduce moisture.

Golden Equity Investments said that Outlast's customers and partners can expect to see the "same levels of service and quality products to which they have become accustomed. The acquisition will enhance "an already robust supply chain allowing Outlast to maintain its position as an industry leader in phase-change technology, benefitting Outlast's customers and partners worldwide".

The Outlast workforce and leadership teams will remain in place and all of Outlast's sales, distribution and licensing operations worldwide will continue with business as usual. Outlast operations in North America, Europe and Asia will remain unchanged.

Terms of the deal were not disclosed.