Acquisition completed of Pharr HP by Coats
- 11 Feb 2020
11 February 2020: The transaction for Coats, the world’s leading industrial thread company, to acquire Pharr High Performance Yarns (Pharr HP) has completed.
Pharr HP is a market leading manufacturer of high-performance engineered yarns based in McAdenville, North Carolina, US. It specialises in providing technical yarn solutions to the growing markets of Industrial Thermal Protection, Defence and Fire Service industries. The acquisition of Pharr HP’s manufacturing capabilities and customer base provides further expertise and scale to Coats’ existing Personal Protection business (part of the Performance Materials segment). Coats will enhance Pharr HP’s 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.
Rajiv Sharma, Group Chief Executive, Coats, said: 'We can draw from our strong track record of successfully integrating and growing acquisitions as we add the Pharr HP operations to the Coats family. The completion of the transaction means we can now further enhance the expertise and scale of our Personal Protection business.'
The completion of the transaction on 10 February 2020 follows the announcement in November 2019 that Coats had signed a binding agreement, subject to the receipt of the required regulatory approvals and other completion procedures, to acquire the business and assets of Pharr HP.
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For more information contact:
Kristina Blissett, Head of Group Communications
kristina.blissett@coats.com
T +44 (0)208 210 5084, M +44 (0)7714 539887
Notes to Editors
About Coats
Coats is the world’s leading industrial thread company. At home in some 50 countries, Coats has a workforce of 18,000 people across six continents. Revenues in 2018 were US$1.4bn.
Coats’ pioneering history and innovative culture ensure the company leads the way around the world. It provides complementary and value added products, services and software solutions to the apparel and footwear industries. It applies innovative techniques to develop high technology Performance Materials threads, yarns and fabrics in areas such as automotive, composites, fibre optics and Oil & Gas.
Headquartered in the UK, Coats is a FTSE 250 company, a constituent of the FTSE4Good UK Index and a participant in the UN Global Compact. It is also the Official Thread Supplier to the Royal Shakespeare Company.
- Each year Coats makes enough thread to go into 8 billion pairs of jeans – that is one for every person on the planet
- Every month Coats produces enough thread to stretch all the way to the sun
- More than 450 million pairs of shoes are made every year using Coats’ thread
- More than 100 million car airbags are made using Coats’ Performance Materials thread every year
- In 1879 Thomas Edison used Coats’ thread in his experiments to invent the light bulb
- Coats’ flame retardant Performance Materials threads can withstand temperatures as high as 1,000 degrees Celsius
- Coats Epic Ecoverde is the world’s first 100% recycled premium sewing thread
To find out more about Coats visit www.coats.com
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About Pharr HP
Pharr HP is a diverse business with a unique product portfolio which services the military, fire-fighting, and industrial work wear industry which has recently benefited from growth in the domestic oil and gas industry.
For more information visit https://pharrusa.com/companies/pharrhp/
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