Invista has bought out the apparel related fiber assets of Advansa, including the German company's licensing rights to Invista’s Coolmax and Thermolite trademarks in Europe, Middle East and Africa and Advansa’s Thermocool brand and related technologies and staff.
With leading brands including Lycra, Coolmax and Cordura, Invista is a leading supplier of performance fibers to the performance and outdoor apparel brands.
The acquisition includes all of Advansa’s Specialty Polyester products sector pertaining to apparel end uses. Prior to this transaction, Advansa had license rights to use the Coolmax fabric and Thermolite fabric trademarks in Europe, Middle East and Africa through a license agreement from Invista, which owns both brands.
“The new unified global business in Specialty Polyester gives Invista’s clients an outstanding spectrum of branded technologies to choose from, encompassing both the warm and cool fabric spaces with the Thermolite and Coolmax brands, respectively, and the Thermocool brand will enhance our specialties technology portfolio,” said Dave Trerotola, president, Invista Apparel. “We are excited to have the global marketing and commercialization rights for the Coolmax , Thermolite and Thermocool brands. We look forward to a seamless transition for our global customers.”
The transaction does not include Advansa's branded home textiles fiberfill business, its specialty fiber businesses for nonwovens and paper industries, or its manufacturing plant in Germany. Advansa, a leading European producer of polyester fibers, will continue to serve its customers with standard and unbranded fibers as before.
“This transaction will significantly strengthen Advansa's balance sheet and will allow us to focus on new investment opportunities as well as continuing to invest in and strengthen our ongoing retained businesses,” said Dr. Heinz Meierkord, chief executive officer.
Key staff and consultants involved in the Advansa business have been hired and engaged by Invista, and sales and critical business support process are already operational. Terms of the acquisition were not disclosed.
Headquartered in Wichita, KS, Invista operates in more than 20 countries and has about 10,000 employees.
Advansa is a leading European polyester fiber producer, based in Germany, and supplying customers worldwide through a network of logistic centers and representative offices. Advansa brings added value to its customers worldwide through advanced and sustainable polyester fiber technology and brands.
