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Monforts
Monforts
Techtextil North America & TexProcess

26th November 2019, Uxbridge

Coats acquires Pharr HP

Pharr HP specialises in solutions for industrial thermal protection, defence and fire service industries. © Coats

Pharr HP specialises in solutions for industrial thermal protection, defence and fire service industries. © Coats

Coats, a 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, NC, US.

“It 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,” commented Bill Carstarphen, CEO and President, Pharr.

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’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 textiles experience, strong industry connections, existing operational footprint in North America, and strong brand to deliver high-performance solutions for its customers.

“Pharr HP expands our existing manufacturing capabilities and widens our innovation offering to drive further penetration into the Personal Protection market,” said Rajiv Sharma, Group Chief Executive, Coats.

“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.”

www.coats.com

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