Industrial thread maker Coats has completed its acquisition of US high-performance engineered yarn maker Pharr High Performance Yarns (Pharr HP).
North Carolina-based Pharr HP specialises in technical yarns for the growing industrial thermal protection, defence and fire service markets.
First announced in November of last year, the acquisition of the firm’s manufacturing capabilities and customer base will add further expertise and scale to Coats’ existing Personal Protection business – part of its Performance Materials segment.
Coats says it will enhance Pharr HP’s performance by leveraging its extensive textile experience, strong industry connections, existing operational footprint in North America, and strong brand.
“We can draw from our strong track record of successfully integrating and growing acquisitions as we add the Pharr HP operations to the Coats family,” says Rajiv Sharma, group chief executive of Coats. “The completion of the transaction means we can now further enhance the expertise and scale of our Personal Protection business.”
The terms of the transaction were not disclosed.
Last month, Coats announced it has partnered with global lighting specialist Osram to develop a lightweight and customisable LED light system designed for application in activewear or workwear.