An investor group led by Victor Capital Partners and private equity group Allstate has acquired US-based insulation, fabric and yarn maker PrimaLoft, in a move to accelerate its growth strategy.
The investors will provide will provide the company with fresh capital to invest in technological innovation and market development.
Go deeper with GlobalData
PrimaLoft develops high-performance materials for outdoor and fashion brands, and over the past five years has been owned by the Prudential Capital Group, which acquired it from its parent company Albany International Corp.
PrimaLoft management will continue to maintain “significant investment in the business.” Financial details of the transaction were not disclosed.
“This is an incredible opportunity to enhance the future of PrimaLoft,” says Mike Joyce, president and chief executive officer of PrimaLoft.
“In recent years, we have enjoyed significant growth and further established PrimaLoft as a leading consumer ingredient brand that partners with many of the best outdoor, fashion, and home furnishings companies in the world.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData“Our new partnership with Victor Capital will provide the capital, commitment and operating support to drive our technological innovation and market development to new levels.
Douglas Korn, managing partner of Victor Capital, adds his company is looking forward to “helping the management team propel the company to new levels of success.”
“The strong and growing reputation of the PrimaLoft brand and the company’s history of leadership in developing innovative technologies offer an exciting platform for continued growth”.
Among its latest developments, Primaloft has updated its Gold insulation to include 55% post-consumer recycled content.
PrimaLoft updates Gold insulation to 55% recycled content
It also launched a new Cashmere Blend Base Layer Fabric in a bid diversify its products to focus on year-round applications.
PrimaLoft develops new cashmere blend fabric and yarn
