Coats buys Gotex, Fast React for as much as US$45 mln, adding industrial thread, software

Mon, 06 Jun 2016

By Jonathan Underhill June 7 (BusinessDesk) - Coats Group, the UK-based thread-maker left after diversified investor Guinness Peat Group sold its other assets, is buying an industrial yarns business and a software company servicing the apparel industry for as much as much as US$45 million including earnouts. Coats is acquiring Gotex, based near Barcelona, Spain, for an initial payment of US$28 million and a further US$4 million after two years, provided certain performance targets are met, the company said in a statement. Gotex makes "hig...

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