PrimaLoft is the world leader in research and development of advanced insulations and fabrics that global brands use to deliver high performance and comfort while also reducing impact on the environment. Victor Capital acquired a majority interest in PrimaLoft in 2017 in partnership with the management team, which maintained a significant investment in the business, the company said in a media statement.
Victor Capital and management collaborated to execute a successful growth plan that dramatically expanded the reach, size, and value of the company. PrimaLoft employees across the globe will receive some proceeds from the sale, thanks to the ‘PrimaLoft Prosperity Plan, which Victor Capital and management put in place to ensure all employees would benefit financially from the growth and success of the business.
The transaction is subject to customary closing conditions, including receipt of required regulatory approvals, and is expected to close in early July 2022. William Blair & Company is serving as lead financial advisor to PrimaLoft along with Baird. Legal advisors to PrimaLoft are Blank Rome.
“We are thrilled with the remarkable progress and value creation delivered by Mike Joyce and the entire PrimaLoft team during our partnership. PrimaLoft has introduced industry-leading innovations, including the successful launch of proprietary, high-performance materials that reduce environmental impact, and we are proud to have contributed our experience and resources to this tremendous success story,” Douglas Korn, founder and managing partner of Victor Capital, said in a statement.
“We are extremely grateful to Victor Capital, who has been a supportive, valued, and trusted partner to the PrimaLoft team. Their partnership has been a driving force behind the ability of our team to develop, advance and amplify our mission to deliver high performance products that reduce impact on the environment. The power of the PrimaLoft brand has grown exponentially during our time together, and our suite of products now includes technologies and sustainability platforms that have further established our position as a leader within our global industries. Our entire team is stronger, and our brand partners now offer higher-quality, more sustainable, differentiated products to consumers around the world,” Mike Joyce, president and chief executive officer of PrimaLoft, said.
Fibre2Fashion News Desk (GK)
Apparel/Garments | On 29th Jul 2022
Bangladesh’s ready-made garment (RMG) exports to Japan crossed the $1 ...
China’s National Development and Reform Commission recently allocated ...
US real GDP decreased at an annual rate of 0.9 per cent in the second ...
Gaurav Davda Jindal Worldwide Ltd
Indian MMF sector to become globally competitive
Increase foreign exchange and create jobs
Consistency is the first rule of social media
<div>Encapsulating inspirations from around the globe, Snitch crafts...
Stony Creek Colors was started in 2012 to build a new future for natural...
Rooted in the ethos ‘Sustainability First’, Anubha Industries develops...
Erendiz Anil Kirhalli Kansan Materials
Kansan Materials is an engineering, technology and machinery group that...
Fitesa is a leader in the nonwoven fabrics industry, specialising in...
The Indian Technical Textile Association (ITTA) is the only association of ...
Tiziano Guardini Label - Tiziano Guardini
Italy-based eponymous label by the designer Tiziano Guardini who loves...
<div>The designer duo Vrinda Sachdev and Gurinder Singh launched their...
Francesca Palumbo Label - Francesca Palumbo
Francesca Palumbo creates intricate and detailed knitwear that follows the ...
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.
By submitting you confirm you have read our Terms & Conditions and Privacy Policy.