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
ECU Worldwide Unveils XLERATE 2.0 Expansion to Bypass Asia–Europe Supply Chain Disruptions25.3.2026 14:30:00 CET | Press release
Strategic LAX gateway enables faster, predictable cargo movement through a reimagined sea–air logistics model ECU Worldwide, Allcargo Globals’ wholly-owned global subsidiary, has announced a strategic expansion of its transformative logistics solution, XLERATE 2.0, to provide a high-speed and resilient alternative to Asia-to-Europe trade lanes facing transit disruptions. Under this alternative routing, cargo is transported across the Pacific to the US West Coast, using Los Angeles (LAX) as a temporary hub. The solution leverages XLERATE 2.0’s premium, time-definite ocean services, ensuring greater transit agility and continuity. XLERATE 2.0 offers two distinct shipping solutions from China and Vietnam, providing shippers with flexibility as traditional trade arteries remain impacted by shifts in global logistics. These changes have led to reduced overall capacity and the disruption of standard sea–air services via conventional transit points. Commenting on the rollout, Simon Bajada, Re
Incyte Announces Executive Leadership Appointments25.3.2026 14:00:00 CET | Press release
Incyte (NASDAQ:INCY) today announced appointments among its executive leadership team to support the Company’s strategic focus and long-term growth plans. Pablo J. Cagnoni, M.D., has been appointed President, Incyte and Global Head of Research and Development. In this role, Dr. Cagnoni will retain responsibility for Research and Development, while also supporting enterprise-wide strategic planning and operational execution. Under Dr. Cagnoni’s scientific leadership, Incyte’s R&D progress has been notable, including advancing our mutCALR antibody, povorcitinib, CDK2, KRASG12D and TGFßR2xPD1 programs. Dr. Cagnoni has also continued to strengthen the way Incyte conducts R&D, introducing a new structure, processes and new technologies to improve productivity and keep Incyte competitive. Steven Stein, M.D., has been appointed Executive Vice President, Chief Medical Officer and Head of Late-stage Development. In this role, Dr. Stein will continue to oversee Incyte’s extensive and growing lat
Andersen Consulting indgår en samarbejdsaftale med Ventum Consulting25.3.2026 13:58:00 CET | Pressemeddelelse
Andersen Consulting udvider sin globale platform med tilføjelsen af samarbejdspartneren Ventum Consulting, der er et forretnings- og teknologikonsulenthus med base i Tyskland, der specialiserer sig i digital transformation, enterprise agility, produktudvikling, datadrevet innovation samt nye teknologier såsom AI. Ventum Consulting hjælper organisationer med at bygge bro mellem forretning og teknologi ved at levere skræddersyede løsninger inden for strategi, procesoptimering og implementering af it-løsninger. Virksomhedens ekspertise omfatter data og AI, cybersikkerhed, enterprise architecture, bæredygtighed, cloud-transformation samt agile enablement, hvilket kun er et udsnit af deres omfattende serviceportefølje. Ventum Consulting arbejder med kunder på tværs af brancher, herunder bilindustri og produktion, finansielle tjenester og forsikring, sundhedssektoren og life science-industrien samt den offentlige sektor, for at accelerere digital transformation, styrke driftsmæssig robusthed
OCP Announces Date of Fourth Quarter and Full Year 2025 Earnings25.3.2026 13:30:00 CET | Press release
OCP S.A. (“OCP” or the “Company”), a global leader in the fertilizer industry, will release its fourth quarter and full year 2025 results on Wednesday, April 1, 2026. The results will be available to holders of the Company’s bonds, qualified institutional buyers, securities analysts, and market makers on the OCP Intralinks portal from 9:00 a.m. EST, 2:00 p.m. Morocco and London time (GMT+1). OCP senior management will host a conference call to discuss fourth quarter and full year 2025 results at 10:00 a.m. EST, 3:00 p.m. Morocco andLondon time (GMT+1),on Wednesday, April 1, 2026, for holders of the Company’s bonds, qualified institutional buyers, securities analysts, and market makers. Eligible parties that have not already registered for access to the Intralinks portal may do so by contacting the Investor Relations Department by emailing g.laraki@ocpgroup.ma. About OCP OCP is a global leader in the fertilizer industry, backed by almost a century’s production history. OCP has exclusive
SLB Industrializes AI for the Energy Industry with NVIDIA25.3.2026 13:00:00 CET | Press release
Companies will develop modular data center infrastructure and generative AI models for large-scale deployments Global energy technology company SLB (NYSE: SLB) today announced an expansion of its technology collaboration with NVIDIA to design and deploy critical AI infrastructure and models for the energy industry. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260324731936/en/ SLB’s technology center in Louisiana: a 3.1 million square-foot facility dedicated to manufacturing for its modular data center business. The work focuses on three strategic elements: Modular design for data centers: SLB will serve as the modular design partner for NVIDIA DSX AI factories. This modular approach, where components are manufactured offsite, will drive increased quality and reliability while also reducing costs, labor constraints and lead times. It also enables rapid and flexible scaling, which allows customers to expand data center capac
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