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
LambdaTest and SVAM International Inc. Announce Partnership to Transform Quality Engineering for Businesses26.11.2025 18:00:00 CET | Press release
The alliance empowers enterprises with accelerated SDLC cycles, reduced testing effort, and modern AI-driven digital transformation capabilities LambdaTest, a Gen-AI native quality engineering platform, announced a partnership with SVAM International, Inc., a global leader in digital transformation services. This strategic alliance marks a significant step forward in their mission to transform quality engineering for businesses worldwide. The partnership allows LambdaTest to extend its AI-native quality engineering capabilities into SVAM’s extensive digital transformation ecosystem. By integrating with SVAM’s experience in large-scale application development, testing, and delivery across major New York State and City agencies, as well as their platform expertise across Salesforce, ServiceNow, and Dynamics365, LambdaTest will empower more enterprises to modernize their software delivery pipelines. With LambdaTest’s intelligent test orchestration and execution engine at the core, teams c
GLORY Acquires Remaining Equity Shares in Acrelec Group26.11.2025 16:11:00 CET | Press release
Acrelec becomes a wholly owned subsidiary of Glory Glory Global Solutions (International) Ltd, a wholly-owned subsidiary of GLORY Ltd. [TYO:6457], has announced the acquisition of the remaining equity shares in Acrelec Group SAS. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251126039437/en/ Acrelec is a global technology company focused on reinventing the customer experience for restaurant and retail brands. Leveraging decades of software, hardware and service expertise, the company develops and integrates new platforms that increase customer engagement, optimize efficiency and improve operations. With over 120,000 installations across more than 70 countries, Acrelec counts many of the world’s best-known restaurant mega-brands among its customers. We announce that Jalel Souissi has left the Acrelec Group following the completion of the recent share acquisition. Jalel Souissi has played a pivotal role in the development and
Andersen Global styrker sin platform i Tyrkiet med tilføjelsen af medlemsvirksomhed26.11.2025 14:49:00 CET | Pressemeddelelse
Andersen Global udvider sin tilstedeværelse i Tyrkiet, efter at Celen Corporate Property Valuation & Counseling Inc. bliver til Andersen i Tyrkiet, hvilket udvider de kompetencer, der tilbydes under Andersen-brandet i landet. Det Istanbul-baserede firma blev stiftet i 1995 og ledes af Managing Partner Guniz Celen med en bred vifte af ydelser til både nationale og internationale kunder. Med ekspertise inden for finansiering af fast ejendom, værdiansættelse af materielle og immaterielle aktiver samt formueforvaltning leverer den tyrkiske afdeling af Andersen løsninger, der understøtter komplekse finansielle beslutninger for kunder i mere end 18 lande. “Vores mission har altid været at levere løsninger på de mest komplekse udfordringer inden for ejendoms- og investeringssektoren,” sagde Guniz. “At blive en del af Andersen-brandet styrker vores kompetencer som en betroet rådgiver og giver os adgang til globale ressourcer, hvilket gør os i stand til at skabe endnu større langsigtet værdi fo
Cegid Acquires Shine to Accelerate the Path of Becoming Europe's Leading Financial Copilot for SMBs and Accountants26.11.2025 14:00:00 CET | Press release
Transformative combination creates a powerhouse for SMBs and accountants, empowering businesses across Europe by integrating leading suites of e-invoicing, digital accounting, business accounts and payments, and HR solutions into a unified platform. Cegid, a European leader in cloud software for finance, accounting, HR, and retail software, and Shine, a fast-growing European fintech unicorn providing digital business accounts and payments, e-invoicing, accounting, and payroll software to small businesses across Europe, announced today that the companies have entered a definitive agreement to join forces to form a European champion and become a leading provider of software for businesses and their accountants. This transformational combination will create the first fully integrated, cloud-native and AI-driven financial hub for SMBs and accounting professionals in Europe – bringing together market-leading capabilities in e-invoicing, accounting, digital business accounts and payments, ta
U.S. FDA Grants Priority Review to Sonrotoclax for the Treatment of Relapsed or Refractory Mantle Cell Lymphoma26.11.2025 12:00:00 CET | Press release
If approved, sonrotoclax will become the first BCL2 inhibitor for R/R MCL in the U.S., addressing a high unmet need in an aggressive cancerSonrotoclax previously received Breakthrough Therapy Designation based on clinically meaningful, rapid responses in R/R MCLBeOne Medicines will present the data supporting the NDA and Priority Review for the first time at ASH 2025 BeOne Medicines Ltd. (Nasdaq: ONC; HKEX: 06160; SSE: 688235), a global oncology company, today announced that the U.S. Food and Drug Administration (FDA) has accepted and granted Priority Review to a New Drug Application (NDA) for sonrotoclax, a next-generation BCL2 inhibitor, for the treatment of adult patients with relapsed or refractory (R/R) mantle cell lymphoma (MCL), following treatment with a Bruton’s tyrosine kinase (BTK) inhibitor. “Sonrotoclax is advancing with remarkable speed, from Breakthrough Therapy Designation to Priority Review, all within a short window,” said Lai Wang, Ph.D., Global Head of R&D at BeOne.
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