Milliken to Acquire Polartec

Textile powerhouse, Milliken & Company, announces plans to purchase Polartec brand from Versa Capital Management

Spartanburg, SC based Milliken announced this week that it has agreed to terms with Versa Capital Management to purchase Andover, MA based Polartec, LLC. While details of the transaction have not been released, it is set to close later this month.

Over the last century and a half, Milliken has positioned itself as a leader in a broad range of specialties including chemicals, floor covering, and high-performance textiles. The acquisition of Polartec broadens the Performance and Protective Textiles Division to include a full range of fleece and soft-shell outerwear.

Milliken & Company president and CEO explains, “Polartec brings a wealth of new and respected outdoor textile expertise to compliment Milliken’s strengths. The strategic acquisition broadens our textile capabilities with a product offering to now include fleece and soft-shell outerwear, among others, allowing us to grow in new and exciting spaces.”

Inventors of modern technical fleece, Polartec is well respected across various markets ranging from consumer products to flame-resistant and arc-rated fleece for workwear and military applications.

Eyeing the future under Milliken, Polartec CEO noted, “With more than 150 years of textile innovation, Milliken is the best possible ‘natural owner’ of a brand with Polartec’s pedigree. I look forward to supporting the integration.”

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