Asian buyout firm Navis Capital Partners is considering a sale of its footwear materials supplier Texon, which could net about $300 million, according to a report from Bloomberg.
Sources said that Navis is working with boutique investment bank BDA Partners on the potential sale. Navis had previously reportedly looked to hire a financial adviser to gauge interest for Texon in early 2020, although the previous sale process was not launched due to COVID-19 and a lukewarm market, a spokesperson said.
Texon supplies non-woven and cellulose materials used in shoes for companies including Nike, Adidas and Decathlon. Its products are also used in clothing, luggage and handbags.
