Advansa sells Thermocool brand to Invista
Polymer and fibre producer Invista has agreed to acquire the assets of polyester fibre, filament and specialties supplier Advansa’s Specialty Polyester products sector for apparel end uses.
The acquisition includes the reversion of Advansa’s licensed rights to the Coolmax and Thermolite brands in greater Europe as well as the acquisition of Advansa’s Thermocool brand. Key staff and consultants involved in the Advansa business have been taken on by US-based Invista.
Prior to the transaction, Netherlands-based Advansa held licensing rights to use the Coolmax and Thermolite trademarks in Europe, Middle East and Africa through a license agreement with Invista, which owns the two brands.
“The new unified global business in Specialty Polyester gives Invista’s clients an outstanding spectrum of branded technologies to choose from, encompassing both the warm and cool fabric spaces with the Thermolite and Coolmax brands, respectively, and the Thermocool brand will enhance our specialties technology portfolio,” said Dave Trerotola, president, Invista Apparel.
Dr Heinz Meierkord, chief executive officer at Advansa, said: "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”.
