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IN THE MARKET | COMPANY NEWS 10 • Textile Insight ~ November/December 2017 textileinsight.com Invista's Lycra Business Acquired by Chinese Company Shandong Ruyi Investment Holding, parent of a leading Chinese textile and apparel company, has entered into a definitive agreement to acquire Invista's Apparel & Advanced Textiles business (A&AT), which includes the global Lycra brand. Purchase price on the transaction, expected to close by mid-2018 after regulatory clearances, was not disclosed. The deal includes Invista's portfolio of apparel-focused fibers and brands including Lycra fiber, Lycra HyFit fiber, CoolMax fiber, Thermolite fiber and insulation, Elaspan fiber, Supplex fiber and Tactel fiber products among others; related manufacturing assets, research and development centers, and sales offices around the globe. The unit has global technical, opera- tions, commercial and administrative staff of approximately 3,000. Invista will retain ownership of its nylon, polyester, polyols and licens- ing businesses and related brands. This includes Invista's nylon 6,6 intermediates business, its global nylon polymer and fiber portfolio, and brands including Stainmaster and Antron carpet fibers and Cordura fabric. Invista will also retain its intellectual property rights for 1,4 butanediol (BDO), tetrahydrofuran (THF) and polytetramethylene ether glycol (PTMEG) technologies and will continue to license these technolo- gies on a global basis. "The Apparel business has always been a strategic and valued part of our portfolio," said Jeff Gentry, Invista chairman and CEO. "We engaged the market because we want this busi- ness to be owned by the company that can create the greatest value for customers, employees and stock- holders. In this case, we believe that Shandong Ruyi Investment Holding has the knowledge and capability that will enable this business to thrive the most and succeed over the long term." "Invista's world-class assets and consumer-recognized brands are a perfect fit for our growing portfolio of textile-related products," said Yafu Qiu, chairman of the board of Shandong Ruyi Investment Holding. "Over the decades, the Lycra brand has transformed the apparel industry, and continues to do so today. We are committed to taking this business to the next level through continued investment in innovation and the business' portfolio of consumer- recognized brands. We also see opportunity to leverage Shandong Ruyi Investment Holding's existing capabilities—including our spandex manufacturing assets—to further enhance A&AT's position in the global marketplace." O Primaloft Completes Management Led Buyout Primaloft has recently completed a management-led transaction to recapitalize the business and to help the rapidly growing company invest in innovative technologies to meet growing consumer demand. The new investor group is led by private equity firm Victor Capital Partners, in part- nership with the private equity group at Allstate. Primaloft management will continue to maintain a significant investment in the business. Financial terms of the transaction were not disclosed. Primaloft, based in Latham, NY, was previously owned by Prudential Capital Group. Under new ownership, the company intends to continue making signifi cant investments for the development of high-performance insulations and fabrics. "Our new partnership with Victor Capital will provide the capital commitment and operating support to drive our technological innovation and market development to new levels," said Primaloft's president and CEO Mike Joyce in a prepared statement. O Microban Expands Presence in Europe A new distribution agreement between Microban and Tanatex Chemicals will make the entire Microban textile product line avail- able in Europe for the first time, significantly expanding Microban's global presence. Additionally, the arrangement will deliver key benefits to textile designers, technical devel- opers/engineers, retailers, brands and manufacturers, including enhanced regional support and faster turn- around times. Through the partnership, Tanatex, a leading textile chemical solutions pro- vider based in the Netherlands, will distribute Microban's entire range of odor control chemistries, including the AEGIS product line, into Europe, the Middle East and Southeast Asia. Applications will include functional odor control finishes for textiles – apparel, footwear and home – as well as built-in protection for technical textiles. This is the first time Tanatex includes antimicrobial solutions for odor control to its portfolio of textile processing products and services. Pablo Perella-Berdun, president, Microban International states, "This partnership is a natural step in our plan. Microban chose to partner with Tanatex based on their highly recognized technical expertise and customer focus to mills that service major apparel, footwear, home, healthcare and technical brands." Tanatex Chemicals CEO, Marco de Koning, adds, "We believe this partnership and the joint outreach that will go along with it will have a profoundly positive impact, not only A Round Up of New Programs, Partnerships and Products Primaloft Gold Insulation featured in L.L.Bean Mountain Hoodie Pro. Lycra in activewear.