Hi-tech textile company Crypton has acquired rival business Nanotex from its private equity and venture capital owners for an undisclosed sum.

The US company bought Nanotex, a nanotechnology specialist, from a group headed by WL Ross and Co, and also including Norwest Venture Partners, Masters Capital Nanotechnology Fund, Firelake Capital Management and Masters Capital Management.

The company uses nanotechnology to enhance textiles, giving them properties including stain and water resistance, moisture wicking, odour control, static elimination and anti-wrinkling.

Crypton said Nanotex technology had featured on branded finished products worth US$280m at retail around the world in 2013.

“This is a strategic acquisition as we extend our market share with apparel throughout the world,” said Randy Rubin, chairman of The Crypton Companies.

“The intellectual properties and latest development, Aquapel, a non-fluorinated repellency treatment, is very exciting to our research team.

“The pairing of two great performance textile brain trusts will only be enhanced by the shared technology of the two companies.”