SC-MILLIKEN-&-COMPANY
11.6.2019 18:15:04 CEST | Business Wire | Press release
Milliken & Company (“Milliken”), a global diversified manufacturer with more than a century and a half of textile expertise, today announced that it signed a definitive agreement to acquire Polartec, LLC (“Polartec”), a strong global brand known for its innovative performance textiles for outdoor and military apparel, from Versa Capital Management, LLC (“Versa”). The acquisition is expected to close in June. Financial terms of the transaction were not disclosed.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190611005819/en/
Headquartered in Andover, Massachusetts, the Polartec brand carries a respected portfolio of fabric technologies for outdoor apparel, from performance-driven and consumer-focused textiles, to flame-resistant, workwear and military-grade fabrics. The addition of the Polartec brand—particularly its outdoor and fleece textiles—rounds out Milliken’s comprehensive portfolio, allowing the company to deliver unprecedented access to a range of performance textiles for consumers, industrial workers and military personnel around the world.
“Polartec brings a wealth of new and respected outdoor textile expertise to complement Milliken’s strengths,” shared Halsey Cook, president and CEO of Milliken & Company. “The strategic acquisition broadens our textile capabilities with a product offering to now include fleece and soft-shell outerwear, among others, allowing us to grow in new and exciting spaces.”
“With more than 150 years of textile innovation, Milliken is the best possible ‘natural owner’ of a brand with Polartec’s pedigree. I look forward to supporting the integration,” said Polartec CEO Gary Smith. “I’m grateful to Versa Capital Management for their support in realizing Polartec’s full potential, and I’m extremely proud of the global Polartec team for their dedication and hard work that put the company in the position it is in today.”
“We look forward to growing Polartec’s strong brand at Milliken,” said Jeff Price, president of Milliken’s Performance and Protective Textiles Division. “Polartec expands our regional manufacturing reach and grows our technological expertise, enabling us to further deliver innovative performance textiles to the global market.”
“Milliken provides the perfect platform to ensure the continuation and acceleration of the success of the Polartec brand after years of complex and transformative business repositioning by Gary Smith and his team,” said Greg Segall, CEO of Versa and chairman of Polartec. “It has been a great collaboration with Gary and all of Polartec’s valued employees, and we are proud of all that has been accomplished during Versa’s ownership—notably the feat of reviving an American textile icon and powerful global brand into an enterprise equipped to succeed in today’s highly competitive markets. Milliken is the ideal long-term owner for Polartec, and we look forward to seeing the two companies achieve big things together.”
Versa acquired the assets of the former Malden Mills in 2007 through the then 101-year-old textile manufacturer’s third reorganization. Working with management, the business was transformed, renaming the company Polartec, reorienting it toward a technology- and innovation-led growth strategy, and revamping the company’s leadership, operations, manufacturing footprint and customer relationships.
The transaction is subject to customary closing conditions.
Versa and Polartec were advised by Lazard Middle Market and Sullivan & Cromwell LLP. Milliken & Company was represented by Jones Day.
To learn more about Milliken’s Performance and Protective Textiles Division, visit textiles.milliken.com .
About Milliken
Milliken has been solving everyday problems
with innovative solutions for more than 150 years. Our research, design
and manufacturing expertise reaches across a breadth of disciplines
including specialty chemicals, floor covering, and performance and
protective textiles. An unwavering commitment to ethics guides our work
to redefine how we add strength and protection to products, how we
infuse vibrancy and color into our surroundings, and how we care for the
environment. For us, success is when discoveries made within Milliken
help us all have more meaningful connections with the world. Discover
Milliken at www.milliken.com
,
and join us on Facebook
,
Instagram
,
LinkedIn
and Twitter
.
About Polartec, LLC
Headquartered in Andover, Massachusetts,
Polartec is the premium provider of innovative and sustainable textile
solutions, combining innovation with eco-engineering to provide
relevant, market-applicable textile solutions. Since inventing modern
technical fleece in 1981, the engineers at Polartec continue to advance
the science of fabric, creating fabric technologies that solve problems
and improve the way products are designed and used. Polartec products
range from lightweight wicking and cooling fabrics, to insulation and
weather protection textiles, and are utilized by leading consumer
brands, the U.S. Military and other global militaries, flame resistance,
workwear, and contract upholstery markets. For more information, please
visit www.Polartec.com
and follow Polartec on Instagram, Facebook and Twitter.
About Versa Capital Management, LLC
Versa Capital
Management, LLC is a private equity investment firm focused on control
investments in special situations involving middle market companies and
their management teams. Versa focuses on businesses in a diverse array
of industries where value and performance growth can be achieved through
enhanced strategic, operational and financial management. For more
information, please visit www.Versa.com
.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190611005819/en/
Contact:
Polartec and Versa Capital Management Abernathy MacGregor Chuck Dohrenwend or JP Letourneau cod@abmac.com / jpl@abmac.com 212.371.5999
Milliken & Company Mollie Williams mollie@mwilliamscg.com 864.419.6204
Liz Morris liz@mwilliamscg.com 864.918.5196
Social Media:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Tula Technology Builds Global Momentum Expanding OEM and Tier 1 Engagements4.2.2026 08:00:00 CET | Press release
Provides 2026 business outlook with multiple start of production (SOP) targets in 2027 Tula Technology, Inc., a leader in propulsion efficiency and developer of Dynamic Motor Drive® (DMD), today provided a business update highlighting further technical progress across China and Europe as the Company advances towards global commercialization. In the fourth quarter of 2025, another Global Tier 1 completed DMD testing, achieving efficiency exceeding expectations. The Company also signed two additional memoranda of understanding, expanding engagement with OEMs and Tier 1 suppliers. In total, Tula is advancing six development programs towards a start of production (SOP) in 2027, with additional programs to follow. In China, Tula has recently signed two additional agreements – one with a Chinese OEM and another with a global Tier 1 supplier. The OEM has already begun dynamometer testing to confirm the DMD benefit, and upon meeting expectations, an over-the-air update adding DMD software into
LINVO AG Sponsors Fight Aids Cup 2026 in Monaco4.2.2026 07:00:00 CET | Press release
Football legends unite with royalty for HIV awareness at Stade Louis II When Leonardo Bonucci, Andriy Shevchenko and Clarence Seedorf lined up alongside Formula 1 star Charles Leclerc on January 24, 2026, it wasn't for a trophy - it was for a cause. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260203762724/en/ LINVO AG serves as an Official Sponsor of the Fight Aids Cup Monaco 2026, uniting football legends for the global fight against HIV/AIDS. LINVO AG proudly sponsored Cirque FC at the sixth annual Fight Aids Cup, held at Monaco's iconic Stade Louis II. The charity match raised funds for Fight Aids Monaco, the HIV awareness foundation chaired by H.S.H. Princess Stéphanie. For over two decades, Fight Aids Monaco has worked to break down barriers surrounding HIV/AIDS - funding prevention programmes, supporting research, and providing direct assistance to those living with the disease. The Fight Aids Cup has become the fou
Murata’s Releases Technology Guide to Enhance Power Stability in AI-driven Data Centers4.2.2026 03:00:00 CET | Press release
Murata Manufacturing Co., Ltd. (TOKYO: 6981) (ISIN: JP3914400001) has launched a new technology guide entitled: ‘Optimizing Power Delivery Networks for AI Servers in Next-Generation Data Centers.’ Available on the company’s website, the guide introduces specific power delivery network optimization solutions for AI servers that enhance power stability and reduce power losses across the data center infrastructure. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260203101664/en/ [Murata Manufacturing Co., Ltd.] Technology guide to enhance power stability in AI-driven data centers The guide addresses the rapid advancement and adoption of AI, a trend driving the continuous rollout of new data centers worldwide. As the industry moves toward higher voltage operations and increased equipment density, the resulting increase in overall power consumption has made stable power delivery a critical business issue for data center operators.
The Global Photonics Community Converges in San Francisco as More Than 23,000 Register for Photonics West 20263.2.2026 22:14:00 CET | Press release
The largest annual optics and photonics event highlighted the industry’s best and brightest during a week full of innovation, networking, and research sharing SPIE, the international society for optics and photonics, brought the global optics and photonics community to San Francisco, California, for another successful and enlivening Photonics West. With more than 23,000 registrants, the annual conference and exhibition connected attendees from 40 countries, showcasing the transnational and collaborative spirit of the interdisciplinary industry. The dynamic event ran from 17 to 22 January, with 4,200 technical presentations across 100 conferences, 4 stages of industry-focused panels and presentations, 49 courses, and approximately 1,600 exhibitors in the five expos: Photonics West, BiOS, Quantum West, AR | VR | MR, plus, in its inaugural year, Vision Tech. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260203925940/en/ Attend
Vena To Acquire Acterys, Creating a New Category of Enterprise Performance Management: Orchestrated Planning3.2.2026 17:00:00 CET | Press release
The acquisition unites finance foresight and IT innovation in the first Microsoft-native Orchestrated Planning environment, helping enterprises plan better and achieve more by turning strategy into aligned execution in real time. Vena, the only complete FP&A platform powered by agentic AI and purpose-built to amplify the Microsoft technology ecosystem, today announced it has entered into a definitive agreement to acquire Managility Pty Ltd, operating as Acterys (“Acterys”), the industry’s leading Power BI–based operational planning and app development platform, subject to customary closing conditions and regulatory approval. This acquisition unlocks a category-defining way for enterprises to combine planning, analytics, and application development within the Microsoft tools they already trust to run their business. By combining Vena’s Excel-native financial planning and analysis (FP&A) capabilities with Acterys’ proprietary Power BI write-back engine and unified analytics within Micros
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom