PI Global Investments
Private Equity

Texon ad Coats Group Plc Transaction


$237,000,000 | Texon (logo), a portfolio company of Navis (logo), has agreed to be acquired by Coats Group Plc (logo) | Pending

William Blair and its Asian affiliate, BDA Partners, acted as exclusive financial advisors to Navis Capital Partners, in connection with its pending sale of Texon to Coats Group plc, for an enterprise value of $237 million. The transaction was announced on July 6, 2022 and is expected to close in July 2022.

About the Companies

Texon is a leading manufacturer of high-performance, sustainable materials for footwear, accessories, and functional apparel. With a proud heritage dating back more than 75 years, Texon’s broad product portfolio includes innovative structural components, revolutionary woven materials, creative cellulose solutions and high-performance fabrics. Trusted by the world’s best-known brands for its technical know-how and unwavering commitment to the environment, Texon is a global business, with a local way of working and teams in more than 90 countries. Always striving for better, Texon’s ambition is zero waste by 2025. This goal drives the business to make a sustainable difference – creating high-quality products that have a positive impact on the planet, communities, and the future.

Founded in 1998, Navis manages approximately US$5bn in private equity capital and focuses on investments primarily in Southeast Asia and its adjacent economies. It contributes both capital and management expertise to well-positioned companies with the objective of directing strategic, operational and financial improvements. Navis has one of the largest private equity professional teams in Asia, comprising 60 individuals, supported by 30 administrative staff, in six offices across the region. Since inception, Navis has completed over 90 control transactions, of which over 60 have been exited, and consistent with Navis investment strategy, almost all these exits have been to trade buyers.

Coats is the world’s leading industrial thread company. Coats provides complementary and value-adding products, services and software solutions to the apparel and footwear industries. It also applies innovative techniques to develop high technology performance materials, threads, yarns, fabrics, and composites in areas like personal protection, telecoms, energy, transportation, and household and recreation. Based in the U.K., Coats is a constituent of the FTSE 250 and FTSE4Good Index Series. The pioneering history and innovative culture of Coats enable the delivery of its purpose to connect talent, textiles, and technology to make a better and more sustainable world.

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