Invista has acquired Advansa’s assets related to speciality polyester products.
This includes a reversion of Advansa’s licensed rights in greater Europe to the Coolmax and Thermolite brands and also the acquisition of Advansa’s Thermocool brand, along with all related technologies and key staff.
Invista is now able to market and promote this portfolio of brands and technologies globally, allowing business development for clients in the chain to be more effective and efficient.
The transaction does not include Advansa’s branded home textiles fiberfill business, its specialIty fibre businesses for the nonwovens and paper industries, or its manufacturing plant in Germany.
“This transaction will significantly strengthen Advansa’s balance sheet and will allow us to focus on new investment opportunities, as well as continuing to invest in and strengthen our ongoing retained businesses,” said Advansa CEO Dr Heinz Meierkord.
Terms of the acquisition were not disclosed.
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