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Coats Group Acquires North Carolina-Based Pharr High Performance Yarns
Thursday 13 February 2020

13 February 2020 - UK-based industrial thread manufacturer Coats Group plc (LSE: COA) has agreed to acquire the business and assets of North Carolina-based engineered yarns provider Pharr High Performance Yarns to add expertise and scale to Coats' personal protection business, the company said.
Terms of the transaction were not disclosed.
Pharr HP's annual sales in its fiscal year ending 31 March 2019 were approximately USD 110m, with adjusted EBITDA of approximately USD 5m.
Pharr HP specialises in providing technical yarn solutions to the growing markets of Industrial Thermal Protection, Defence and Fire Service industries.
Coats develops high technology Performance Materials threads, yarns and fabrics in areas such as automotive composites, fibre optics and Oil and Gas.
Date Published: 13/02/2020
Target: Pharr High Performance Yarns
Country: USA
Sector: Clothing/Textiles
Type: Corporate acquisition
Status: Agreed
Buyer: Coats Group plc
Terms of the deal were not disclosed