Milliken USA takes over textile manufacturer Polartec

Global manufacturer in the textile industry Milliken & Company intends to take over the renowned textile manufacturer Polartec from Versa Capital Management. The company offers textile technologies for outdoor apparel, including fabrics designed to support athletic excellence, as well as consumer-oriented textiles and flame retardant materials for workwear and military.

The acquisition of the Polartec brand will complete Milliken’s portfolio and provide access to a wide range of high-performance textiles for consumers, industrial workers and soldiers around the world. Halsey Cook, the company’s president and CEO states: “Polartec brings a tremendous amount of expertise and cutting edge outdoor textiles expertise to complement our strengths.” Jeff Price, president of the Performance and Protective Textiles division: “Polartec extends our regional reach in manufacturing and our technological know-how.”

During the third restructuring of the then 101-year-old textile manufacturer, Versa acquired the assets of Malden Mills in 2007. In collaboration with the management, the company was restructured, renamed Polartec and adjusted to a technology and innovation driven growth strategy. In addition, Versa re-defined market leadership, streamlined its operations and manufacturing facilities, and strengthened its customer relationships.