Business Wire

SC-MILLIKEN-&-COMPANY

11.6.2019 18:15:04 CEST | Business Wire | Press release

Share
Milliken & Company to Acquire Polartec from Versa Capital Management

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 .

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:

https://www.facebook.com/MillikenandCo/

About Business Wire

Business Wire
Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco

http://businesswire.com

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

IFF to Release Second Quarter 2026 Results on August 4, 20269.7.2026 22:15:00 CEST | Press release

IFF (NYSE: IFF) today announced that it will release its second quarter 2026 earnings results following the market close on Tuesday, August 4, 2026. The management team will host a live webcast on Wednesday, August 5, 2026, at 9:00 a.m. ET to discuss results and outlook with the investor community. Investors may access the live webcast and accompanying slide presentation on the company's website at ir.iff.com. For those unable to listen to the live webcast, a recorded version will be made available for replay. Welcome to IFF At IFF (NYSE: IFF), we make joy through science, creativity and heart. As the global leader in taste, scent, food ingredients, health and biosciences, we’re innovating for the future. Every day, we deliver groundbreaking, sustainable solutions that elevate products people love — advancing wellness, delighting the senses and enhancing the human experience. Learn more at iff.com, LinkedIn, Instagram and Facebook. View source version on businesswire.com: https://www.b

Andersen Global tilføjer samarbejdspartneren Abcoo Law Firm9.7.2026 20:28:00 CEST | Pressemeddelelse

Andersen Global styrker sin tilstedeværelse i Tyrkiet gennem en samarbejdsaftale med advokatfirmaet Abcoo Law Firm, der tilfører bredere juridiske kompetencer til organisationens eksisterende platform i landet. Abcoo blev grundlagt i 2014 og rådgiver lokale og internationale klienter inden for en bred vifte af juridiske tjenester med erfaring inden for selskabsret og M&A, fast ejendom og byggeri, tvistbilæggelse, ansættelsesret, compliance, bank og finans, konkurrenceret samt immaterialret. Firmaet nævnes konsekvent som værende blandt de førende advokatfirmaer af internationale publikationer, herunder The Legal 500. Abcoo understøtter organisationer på tværs af en lang række brancher, herunder ejendomshandel og byggeri, detailhandel, tekstil, kosmetik, bilindustrien, logistik, kemikalier, it, energi, sundhedsvæsnet, produktion og finansielle tjenesteydelser, inden for hvilke de yder strategisk juridisk rådgivning og kommercielt fokusererede løsninger. "Vores prioritet har altid været a

DEWA International Launched as a Wholly Owned Independent Subsidiary of DEWA to Develop Global Energy and Water Projects9.7.2026 18:07:00 CEST | Press release

HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Supreme Council of Energy, announced the establishment of ‘DEWA International’, a wholly owned independent subsidiary of Dubai Electricity and Water Authority (DEWA). The company aims to develop conventional and clean energy projects worldwide and export Dubai’s successful energy and water infrastructure model to global markets. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260709099653/en/ DEWA International launched as a wholly owned independent subsidiary of DEWA to develop global energy and water projects (Photo: AETOSWire) HH Sheikh Ahmed bin Saeed Al Maktoum said: “Thanks to the vision and directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, Dubai has become a global model for achievement and accelerated development. Through its world-class infrastructure, particularly in the energy

Echodyne Opens New Manufacturing Facility to Meet Surging Global Demand for Advanced MESA® Radar9.7.2026 15:00:00 CEST | Press release

New Washington State facility provides capacity to manufacture more than 30,000 radars annually, strengthening the U.S. defense industrial base As governments around the world accelerate investment in counter-unmanned aircraft systems (C-UAS) and short-range air defense, Echodyne today announced the opening of a new advanced radar manufacturing facility in Washington State, significantly expanding its manufacturing capacity to meet rapidly growing demand from U.S. and allied customers. With millions of drones manufactured and used by both sides in the Russian War in Ukraine, the need for enhanced safety for defense, national security, and critical infrastructure assets grows with every successful strike and interception. The low cost and high utility of drones dramatically alters the need for safety and security sensors. And as the low altitude economy takes off, hundreds of thousands of drones will perform a range of life-saving and commercial missions, requiring a sensor infrastructu

Orca Security Report: 99.9% of Fixable AI Vulnerabilities Remain Unpatched as AI Moves Into Production9.7.2026 15:00:00 CEST | Press release

Analysis of more than 1,200 production cloud environments provides a first-hand view into how organizations are embedding AI into business-critical workflows, exposing new security risks that traditional controls weren't built to address. Orca Security, a leader in cloud and AI security, today released its 2026 State of AI Security Report, offering a first-hand view into how AI is being deployed across more than 1,200 production cloud environments. The findings show AI is no longer limited to isolated pilots or developer experiments. Organizations are embedding AI into production applications, cloud services, and autonomous workflows faster than security programs can adapt. More than half (56%) of organizations have already deployed AI agents into production, while 51% use AI to build custom applications. At the same time, Orca found that 81% of organizations run vulnerable AI packages, and 99.9% of fixable AI vulnerabilities remain unpatched, highlighting how quickly AI has become ope

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
World GlobeA line styled icon from Orion Icon Library.HiddenA line styled icon from Orion Icon Library.Eye