SC-MILLIKEN-&-COMPANY
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
Valorem Reply recognized as Winner of 2025 Microsoft Inclusion Changemaker Partner of the Year12.11.2025 21:30:00 CET | Press release
Valorem Reply, the Reply Group company specializing in Microsoft technologies and AI-driven, cloud-native solutions, announced today it has won the 2025 Microsoft Inclusion Changemaker Partner of the Year Award. The company was honored among a global field of top Microsoft partners for demonstrating excellence in innovation and implementation of customer solutions based on Microsoft technology. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251112917859/en/ The Inclusion Changemaker Partner of the Year Award celebrates partners that lead with inclusive design, accessibility, and innovation to help customers and communities achieve more. “We’re proud of Valorem Reply for earning this recognition,” said Filippo Rizzante, CTO at Reply. “Their work exemplifies our shared commitment to inclusion and to using technology as a catalyst for opportunity and meaningful change. This award reflects the dedication and creativity of the Va
TOURISE 2025 Debuts Agentic Tourism Initiative, Pioneering the Protocol for Intelligent Travel12.11.2025 21:25:00 CET | Press release
The Agentic Tourism Initiative was unveiled today at the inaugural TOURISE Summit, introducing the world’s first Agentic Protocol for Tourism, a universal digital framework set to transform every stage of the traveler’s journey. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251112353634/en/ His Excellency Ahmed Al Khateeb, Saudi Arabia's Minister of Tourism and Chairman of TOURISE, launches the Agentic Tourism Initiative on the second day of TOURISE. Launched in partnership with TOURISE and Globant, the Initiative builds on the momentum of the acclaimed whitepaper Tourism’s AI Takeover: Reinventing Travel through Agentic Tourism to create a landmark application of AI. It directly answers the whitepaper’s call to create an Open Protocol for Tourism AI, defining how AI agents interact from inspiration to return. The result: intelligent, seamless, and sustainable travel experiences across the global tourism ecosystem. The Init
NetApp Recognized as Winner of 2025 Microsoft Americas Partner of the Year for SDC Canada Category12.11.2025 21:00:00 CET | Press release
NetApp® (NASDAQ: NTAP), the Intelligent Data Infrastructure company, today announced it has won the 2025 Americas Partner of the Year Software Development Company (SDC) Canada Award. The company received recognition among a group of top Microsoft partners for demonstrating innovation and successfully delivering customer solutions using Microsoft technologies. “We believe that being honored by Microsoft as the 2025 Americas Partner of the Year for the SDC Canada category is a powerful validation of our unmatched innovation and impact for customers across industries,” said Pravjit Tiwana, Senior Vice President and General Manager, Cloud Storage and Services at NetApp. “We are the only storage company natively embedded in Microsoft Azure as a first-party service—a distinction that underscores the depth of our collaboration. Together we’re not only helping customers modernize their workloads at scale—we're architecting the foundation for the AI era.” The Microsoft Americas Partner of the Y
TOURISE Awards 2025: Tokyo, New York, Ancash and Paris Take Top Honors at Inaugural TOURISE Awards12.11.2025 19:31:00 CET | Press release
The very first winners of the TOURISE Awards have been announced, recognizing the destinations redefining exploration, hospitality, and cultural connection for the modern traveler, setting new benchmarks for innovation and excellence to deliver truly unforgettable visitor experiences. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251112648089/en/ His Excellency Ahmed Al-Khateeb, Minister of Tourism and TOURISE Chairman, celebrates with the winners of the TOURISE Awards Taking place as part of the inaugural TOURISE Summit, held under the patronage of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, Tokyo, Japan, emerged as the big winner, clinching the coveted title of Best Overall Destination. In addition, Tokyo was also recognized as both the Best Food & Culinary and Best Entertainment destination, affirming its status as a global capital of innovation, energy, and unfor
Brenus Pharma Expands Its Global Scientific Advisory Board With Us Immuno-Oncology Expert Prof. Olivera J. Finn12.11.2025 19:00:00 CET | Press release
Brenus Pharma, a clinical-stage biotechnology company developing first-in-class in vivo immunotherapies for solid tumors, announced the appointment of Olivera J. Finn, Distinguished Professor at the University of Pittsburgh School of Medicine, to its Scientific Advisory Board (SAB). This strategic addition strengthens Brenus’ international SAB as the company advances its proprietary Stimulated Ghost Cell (SGC) platform and lead candidate STC-1010 toward its next clinical milestones. Globally recognized for her groundbreaking contributions to cancer immunology, Prof. Finn has led major discoveries in tumor antigens. She identified the MUC1 tumor antigen, a cornerstone in cancer research, and discovered cyclin B1 as a promising target for anti-cancer immunotherapy. Over her career, she has authored more than 220 peer-reviewed publications and co-led extensive clinical trials across pancreatic, colon, breast, prostate, and lung cancers. She also served as President of the American Associa
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
