{"id":4498,"date":"2019-11-26T09:35:38","date_gmt":"2019-11-26T09:35:38","guid":{"rendered":"http:\/\/coats.com\/?post_type=news_post_type&#038;p=4498"},"modified":"2023-11-22T07:42:02","modified_gmt":"2023-11-22T07:42:02","slug":"coats-acquires-pharr-hp","status":"publish","type":"news_post_type","link":"https:\/\/www.coats.com\/en-us\/news\/2019\/11\/coats-acquires-pharr-hp\/","title":{"rendered":"Coats acquires Pharr HP"},"content":{"rendered":"<h2>26 November 2019: Coats, the world\u2019s leading industrial thread company, has signed a binding agreement to acquire the business and assets of Pharr HP, a market leading manufacturer of high-performance engineered yarns based in McAdenville, North Carolina, US.<\/h2>\n<p>Pharr HP specialises in providing technical yarn solutions to the growing markets of Industrial Thermal Protection, Defence and Fire Service industries. The acquisition of Pharr HP\u2019s manufacturing capabilities and customer base provides further expertise and scale to Coats\u2019 existing Personal Protection business (part of the Performance Materials segment). Coats will enhance Pharr HP\u2019s performance by leveraging its extensive textile experience, strong industry connections, existing operational footprint in North America, and strong brand to deliver high performance solutions for its customers.<\/p>\n<p>Rajiv Sharma, Group Chief Executive, Coats, said: \u2018Pharr HP expands our existing manufacturing capabilities and widens our innovation offering to drive further penetration into the Personal Protection market. With Pharr HP we are acquiring deep expertise in technical yarn solutions helping us to create ever lighter, stronger and more comfortable yarns for the most extreme environments, protecting many of those who protect us. We will draw upon our strong track record of successfully integrating and growing bolt-on acquisitions, including Gotex and Patrick Yarn Mill which form an integral part of our Performance Materials business.\u2019<\/p>\n<p>Bill Carstarphen, CEO and President, Pharr, said: \u2018It was very important to find the right buyer for our business. Coats is a global leader with a long, proven track record. It understands Pharr HP along with its commitment to its associates and communities so is a good fit which provides an excellent home. There will be great potential to collaborate by building on synergies to develop innovative products.\u2019<\/p>\n<p>Founded in 1939, Pharr HP has around 350 employees. In its latest financial year, annual sales were c.$110m. The acquisition is subject to certain regulatory approvals and is expected to complete in early 2020.<\/p>\n<p><strong>ENDS<\/strong><\/p>","protected":false},"excerpt":{"rendered":"<p>Coats, the world\u2019s leading industrial thread company, has signed a binding agreement to acquire the business and assets of Pharr HP, a market leading manufacturer of high-performance engineered yarns based in McAdenville, North Carolina, US.<\/p>","protected":false},"featured_media":4499,"template":"","news-type":[149,151,150],"class_list":["post-4498","news_post_type","type-news_post_type","status-publish","has-post-thumbnail","hentry","news-type-group","news-type-people","news-type-product-services"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.2 (Yoast SEO v25.2) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Coats acquires Pharr HP | Coats Group plc<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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