Verisk Announces The Sale Of Wood Mackenzie To Veritas Capital

JERSEY CITY, N.J. — October 31, 2022 — Verisk, a global data analytics provider, and Veritas Capital, an investor at the intersection of technology and government, today announced the signing of a definitive agreement under which an affiliate of Veritas has agreed to acquire Verisk’s Energy business, Wood Mackenzie, for $3.1 billion in cash consideration payable at closing plus future additional contingent consideration of up to $200 million.

Wood Mackenzie is a globally recognized industry leader that has been providing quality data, analytics, and insights used to power the energy, renewables, and natural resources industry for nearly 50 years. The Wood Mackenzie Lens© platform enables world class analytics and insights to drive critical decision making for the company’s longstanding clients that operate at the leading edge of the rapidly evolving energy sector. Since joining Verisk in 2015, Wood Mackenzie has developed strong data and analytics capabilities and is now advantageously positioned at the nexus of energy industry tailwinds, offering clients leading renewable energy and energy transition data and analytics with the bold purpose of transforming the way the planet is powered.

“This transaction best positions Verisk to expand our role as a strategic data, analytics, and technology partner to the global insurance industry, and as a result, drive growth and returns that will create long-term shareholder value,” said Lee Shavel, Verisk CEO. “It will also further advance Wood Mackenzie’s competitive position and support the vital roles both organizations play in their respective industries.”

“As co-presidents of Wood Mackenzie, Mark Brinin and Joe Levesque have demonstrated remarkable leadership and have continued to grow the business by relentlessly innovating on behalf of their clients. We’re proud to have supported Wood Mackenzie’s growth and are confident in their bright future as part of Veritas,” Shavel added.

The announcement is the latest demonstration of Verisk’s continued efforts to optimize the business for peak performance and long-term sustainable growth and value. After an in-depth portfolio review, Verisk divested its financial services and environmental health and safety businesses earlier this year.

Veritas brings deep sector knowledge and operational expertise to Wood Mackenzie. As a premier investor in technology and technology-enabled companies that provide critical products, software, and services to government and commercial customers worldwide, the firm is uniquely positioned to further advance Wood Mackenzie’s goal of accelerating the transition to a more sustainable future.

“Drawing from its decades of leadership and innovation, Wood Mackenzie is playing a vital role at the forefront of the global energy transition by providing essential data and insights to organizations across the value chain,” said Ramzi Musallam, CEO and managing partner of Veritas. “In partnership with Wood Mackenzie leadership, and with the strong backing of our strategic investment, we have an opportunity to enhance and expand the datasets and solutions the company provides to its growing customer base, from upstream producers who are looking to decarbonize to new energy asset managers who want to optimize their investments.”

The total purchase price is subject to typical adjustments for, among other things, the working capital and the debt of the business at closing. Verisk intends to use the after-tax proceeds to pay down debt and return value to shareholders through share repurchases.

The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close in the first quarter of 2023.

In a separate press release to be issued tomorrow, Verisk will announce its third-quarter 2022 results. Details on the quarterly announcement and investor teleconference to be held on Wednesday, November 2, 2022, can be found at https://investor.verisk.com.

Morgan Stanley & Co LLC is acting as financial advisor and Davis Polk & Wardwell LLP as legal advisor to Verisk in connection with the transaction. Gibson, Dunn & Crutcher LLP is acting as legal advisor to Veritas.

Posted: October 31, 2022

Source: Verisk / Veritas Capital

Reliance To Enhance Fire Retardant And Sustainable Properties Of Recron® FS Using FRX Innovations’ Nofia® Technology

BOSTON — October 31, 2022 — FRX Innovations, a supplier of eco-friendly flame retardant solutions, is pleased to announce that Reliance Industries Ltd. (RIL), a producer of polyester staple fibers and filament yarns, will use FRX Innovations’ Nofia®, technology to enhance the sustainable edge of its well established Recron FS fire-resistant polyester.

Nofia’s unique polymeric phosphorus-based chemistry helps make Recron FS more sustainable and technically superior for polyester textile applications. Nofia additives are certified by OEKO-TEX® Standard 100 for textile applications and other sustainability certifications such as ChemForward, Green Screen and TCO accrediting that the technology meets these global standards of safety and sustainability.

Hemant D. Sharma, sector head – Polyester Business, RIL said: “Recron FS is manufactured at state-of-the-art facilities, having one of the most environment-friendly conditions and is a part of the responsible care products offering from RIL. We are very proud in bolstering Recron FS on safety and technical parameters with FRX’s Nofia technology. We are committed to deliver exceptional fire safety without compromising health, environment, and aesthetics.”

Marc Lebel, CEO of FRX Innovations commented: “We are very proud to have been selected by the world’s largest polyester fiber and filament yarn producer. For years now, consumer interest in sustainability has been steadily increasing. It is rewarding to see Nofia being deployed in such high visibility consumer products. With ever increasing pressure to deliver sustainable products to the market, we believe that FRX Innovations is well positioned to grow with sustainably minded customers around the world such as Reliance.”

As the world is coming out of the Covid-19 pandemic impact, sustainable textiles have seen a resurgence in demand as many leading textile companies are embedding their environmental and social responsibility goals as a part of their post Covid-19 growth strategy. To meet the goals of a circular economy— including the 3Rs of the waste hierarchy: reduce, recycle, and reuse — textile manufacturers are relying on innovative technologies, such as FRX’s Nofia that enable sustainable products. The global textile flame retardants market size was valued at $519.5 million in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 3.6 percent from 2022 to 2030.*

RIL is seeing increasing interest from leading global textile companies for more sustainable, eco-friendly, fire-retardant technologies. Recron FS is a part of RIL’s extensive R&D achievements in attaining its commitment to launch new products that are completely sustainable throughout-out their lifecycle and responsibly using natural resources.

Furthermore, Reliance conducts sustainability due diligence and audits of its suppliers, which entails a rigorous screening and assessment process in both the pre-award and post-award stages to ensure adherence of standard processes across the value chain. Sustainability in the textile value chain has never been more urgent and RIL’s organization wide efforts to address environmental and social concerns are captured in the annual publication, the Business Responsibility Report 2021-22.

To achieve this mandate in their polyester yarns, which are well known for giving manufacturers unlimited creativity in design, color, texture and performance, Reliance developed a new fire-resistant polyester solution, Recron FS, with FRX Innovations’ Nofia®, technology at its core. FRX Innovations’ Nofia polymeric phosphorus additives deliver improved tenacity in RIL’s polyester textiles and is the only flame-retardant technology that allows for the use of recycled polyester as a feedstock to contents above 60 percent, with the capability of reaching above 90 percent. The ability to use it with recycled polyester makes it a sustainable technology which is proving to be of interest for multiple end-uses. The new technology also enables adjustable flame retardancy from levels of 7000 ppm to 25000 ppm of phosphorus, depending on end user needs making it an attractive solution in multiple markets.

Recron FS is well established name in transportation, hospitality, and home décor industries’ customers. Recron FS based fabrics are used by Indian Railways in seats and curtains due to its unique blend of cost effectiveness, fire safety and durability.

Additionally, the Charles de Gaulle terminal 2 airport, recently unveiled its interior refurbishment featuring Recron FS polyester in its new airport furniture. Moreover, a Spain-based furniture designers, Happers has specified Recron FS yarns in their new collection of lounge chairs citing its beauty, safety, and sustainability attributes.

Thanks to their knowledge creating new elegant textures in yarns, Reliance Partner, Medesfil SA played an important role in both projects. Medesfil CEO, Jorge Pascual said, “Recron FS based textiles are highly regarded throughout the textile industry for their safety, elegance and sustainability features and the quality is unbeatable.”

Quico Climent, Happers CEO, said, “For long time, we were in a search of fabric that met key criteria of safety against fire and sustainable, at the same time elegant. Now we have zeroed in on Recon FS to meet our requirement of providing safe, sustainable and superior aesthetic experience to our customer. We could not be more pleased to base this new line of TV loungers on Recron FS.”

*https://www.grandviewresearch.com/industry-analysis/textile-flame-retardants-market

Posted: October 31, 2022

Source: FRX Innovations

Agora Fabrics Announces Its Introduction To The U.S. Market

PONT d’ARMENTERA, Spain — October 3, 2022 — Agora Fabrics, an international brand specializing in high-quality indoor and outdoor textile production, proudly announces its entry into the U.S. fabric and furniture market.

Agora is a premier brand name from parent company Tuvatextil S.L., based in Pont d’Armentera, Spain. This Spain-based specialized fabric production facility is known for excellence in indoor and outdoor fabric production. Agora’s presence in the most prestigious international trade fairs has positioned the company prominently in the overseas market.

“Agora Fabrics is growing our global reach to customers, driven by our earthy textured fabrics and an amazing production team focused on timely delivery of the highest quality products,” said Gonzalo Sabatés, Agora CEO. “We’re in the process of building partnerships with US customers, expanding on the success of our collective manufacturing supply chain relationships that we have built over the years. The Agora Brand and Team, like the Catalan Spanish people, embrace discovery of the world and growing opportunities for beautiful, durable fabrics in a global marketplace.”

The Agora brand is a high-end textile line produced with 100-percent solution-dyed fiber colored at the core, to withstand harsh outdoor conditions and deliver outstanding performance. Our finished fabrics are water repellent and resistant to UV fading, stains, and mold. They are also bleach-friendly, and easy to clean. The Agora catalog offers more than a dozen collections with sharp designs and gorgeous palettes, including ultra-hygienic Safe Home fabrics for healthy interior softness.

Agora, which translates to, “a gathering place”, is a testament to our love and creativity from our team, the values we uphold, and the elements of our culture, and craftsmanship. Agora is an experience — a personal connection to texture, beauty, and durability.  We invite the world to embrace our vision and experience, Agora Fabrics.

Posted: October 31, 2022

Source: Agora Fabrics

Nextil Redesigns Its Management Structure To Consolidate Sustainable Growth Strategy

MADRID — October 28, 2022 — After successfully finalizing the restructuring process, Nextil faces a new stage of growth for the coming years. Sherpa Capital is handing over the leadership of the company to its management team and key investors.

Manuel Martos, who has been the company’s managing director for the last five years, is appointed as the group’s new CEO. The management team is reinforced with the incorporation of a new general manager, Carlo Pirani, and a new financial director, Rafael Bermejo.

Alberto Llaneza has also joined the company as a member of the Board of Directors, representing Audentia Capital, one of the company’s investors.

These changes are part of Nextil’s reorganization, which have been implemented in several phases since 2019: the exit from the fast fashion segment in favor of higher value-added segments, the closure of the El Masnou factory in Barcelona, the opening of a new strategic plant in Guatemala, as well as the commitment to innovation and sustainability through Greendyes®, the natural fabric dyeing project.

Martos, Industrial Engineer from the Polytechnic University of Barcelona and Executive MBA from ESADE, has held positions of responsibility in different companies, and for the last 5 years has been managing director of Nextil.

Pirani, with a degree in Political Science from the University of Bologna and an MBA in business management, has been distribution director of Golden Lady and manager of Goldenpoint for more than 5 years in China. He was also regional director of the same company in Italy before joining Nextil.

Bermejo, who holds a degree in Economics from the Universidad Autónoma de Madrid, a Master’s degree in Financial Management from IE and a PDG from IESE Business School, is the new corporate director. Rafael began his career in the construction company Sacyr and since 2019 held the position of CFO of the Duro Felguera business group.

New stage of growth

The plan implemented by Nextil has made it possible to recover profitability and consolidate the strategy of sustainable growth.

The new factory in Guatemala, which has already begun production for American customers, will be fully operational by the middle of next year, which will optimize the cost structure with respect to the group’s current sites and will have a positive impact on profitability.

Greendyes®, Nextil’s patented natural and sustainable dyeing method, has evolved into an industrializable and scalable solution that can be licensed worldwide. We are currently working on two pre-productions for two major sports and retail companies and are negotiating with Asian dyeing companies to license production for the world’s leading sports brands.

Posted: October 28, 2022

Source: Nextil Group

Physical Properties Testers (PPT) Group Appoints Andrew Jesudowich As Vice President Of Sales, Americas

Andrew Jesudowich

STERLING, Va. — October 26, 2022 — Physical Properties Testers (PPT) Group announced today that Andrew Jesudowich has been appointed as vice president of Sales, Americas, for the group. An experienced sales executive with 20 years’ experience in the test and measurement instrumentation industry, Jesudowich assumed his responsibilities on October 24, 2022.

The new vice president holds a Bachelor of Science in Computer Science and Engineering from Western Michigan University and a Masters in Global Strategic Management from Walsh College of Accountancy and Business Administration. Having begun his career in vehicle dynamics and durability instrumentation, he progressed through the ranks to sales and marketing director for companies such as imc Test & Measurement and the Kistler Group.

John Page, PPT Group managing director, said the group sees significant growth potential in North America. “With our recent acquisition of the Lansmont Corp., the PPT Group can now offer end-to-end testing solutions, unrivaled by any other industry providers. We feel Andrew has the right expertise and insight into the market, given his exposure to diverse industries and experience with a wide variety of sensing technologies and testing applications, to make him a valuable addition to the PPT Group Sales Team.”

The PPT Group is a family of brands, experts in the design and production of physical properties testing solutions. These solutions cover a range of physical properties including, tensile and compressive strength, torque testing, textiles analysis, and real-world dynamics. The group is comprised of four brands, namely Alluris, James Heal, Lansmont Corporation and Mecmesin.

Jesudowich understands the importance of physical properties testing, having overseen Engine R&D products with pressure transducers and combustion analysis systems, heavy cargo marine and stationary gas pipeline sensors and solutions, as well as vehicle testing, to name but a few.

The new vice president says he looks forward to this new challenge and hopes to cement PPT’s vision of building a multi-branded global platform that can provide high quality testing solutions across all standards, materials and applications.

Posted: October 28, 2022

Source: Physical Properties Testers Group (PPT Group

Mango Commits To Sustainability And Invests In The Recovo Start-Up

BARCELONA — October 27, 2022 — Mango, one of Europe’s leading fashion groups, is committing to sustainability and investing in Recovo, a start-up that resells textile waste. The agreement, established as part of the Mango StartUp Studio project, entails Mango supporting Recovo through a convertible equity loan. The project includes an acceleration program in which entrepreneurs can learn about the Mango operation at first hand, as well as receiving mentoring and advice.

Recovo is a re-commerce platform for textile, yarn and production material waste. Through textile recovery, companies can give a second life to textile surpluses and minimize their environmental impact. Recovo presents a business model which contributes to a circular future through technology, traceability and community action.

The start-up, founded in 2021, now participates in the Mango StartUp Studio acceleration process, in which entrepreneurs receive training on the purchase and sale of textiles in a major fashion company, product architecture and UX for personalized experience, the development process and architecture of an own marketplace, in addition to recommendations for the creation of a Recovo logo that will be recognized by the industry.

The acceleration plan also includes mentoring sessions, training and collaboration, so that the meetings with the entrepreneurs help to foster networking.

Posted: October 27, 2022

Source: Mango

FIOBOC To Release Graphene-Enhanced Activewear

GUANGZHOU, China — October 27, 2022 — FIOBOC, a casual fashion menswear brand dedicated to creating versatile, high-quality, stylish, and sustainable garments, is excited to announce the launch of its new Graphene-enhanced activewear range. The collection of sweatshirts and jackets in a range of elevated and naturally dyed colors will be available on the brand’s website from October 27, 2022.

“As a casual fashion menswear brand, we wanted to provide another option for customers who appreciate high-quality, thoughtfully made clothing that not only brings a comfortable wearing experience to themselves but also helps the environment,” said Marcel, founder of FIOBOC.

Using Graphene fabric in FIOBOC’s new collection allows it to keep warmth and comfort for wearers. Graphene is a two-dimensional carbon nanomaterial that has the potential to revolutionize the fashion and textile industries with its improved performance, extended lifespan, and lower environmental impact. Graphene fabric is a representative carbon-based material that can stop and absorb heat to reduce heat loss from the human body to ensure the wearer is kept warm.

In addition to the unique fabric chosen, the new collection is created with an athleisure style. While promoting comfort and confidence, the simple but stylish design makes it perfect for daily wear at work or home, working out at the gym, or going out motorcycling. Paired with a denim jacket or a snow jacket, it will be an ideal choice for camping or mountain climbing.

The new collection will be available on FIOBOC’s website with various special offers. Shoppers may use the code DP2A18WXJXC to get a 15% off on the new collection, or the code Halloween to get a 10% off on all items from the brand during the celebration between Oct. 26th and Nov. 7th. The codes are only valid once per order.

Posted: October 27, 2022

Source: FIOBOC

International Achievement Award Winners Announced At IFAI Expo 2022

CHARLOTTE, N.C. — October 27, 2022 — Advanced Textiles Association (ATA) announced the winners of the 2022 International Achievement Awards (IAA) at IFAI Expo 2022, October 12-14, in Charlotte, N.C. Attendees and exhibitors were directed to the new Awards Tower Experience on the show floor which featured signage towers displaying all of the projects submitted and recognizing the winners.

ATA’s goal with the IAA is to promote awareness of the specialty fabrics used in thousands of products and applications in the rapidly growing, $130 billion-plus dollar global fabrics marketplace.

ATA received a total of 200 entries in 42 categories for this year’s competition. Winners were selected based on complexity, design, workmanship, uniqueness and function. Judges included industry experts, editors, architects, educators and design professionals.

The International Achievement Awards competition is sponsored by ATA, a not-for-profit trade association with more than 1,600 member companies representing the international specialty fabrics and technical textiles marketplace.

Awnings & Canopies

  • Project Title: Dreamworld Steel Taipan, Queensland, Australia
  • Winner: Fabritecture

Advanced Textiles

  • Project Title: CalmWear: A Smart Tactile Sensory Stimulation Clothing
  • Winner: University of California, Davis

Fabric Environments

  • Project Title: Ningbo Enrich Life Bio-Tec Factory and Office Building
  • Winner: Pfeifer Spatial Structures (Shanghai) Co., Ltd.

Fabric Structures

  • Project Title: Hartford Healthcare Amphitheater
  • Winner: FTL Design Engineering Studio

Geosynthetic Projects

  • Project Title: Des Moines Riverbank Stabilization
  • Winner: Propex

Marine

  • Project Title: Fountain of Youth
  • Winner: In Stiches Customs

Tent

  • Project Title: Mountain Cathedral
  • Winner: Sandone Productions

Posted: October 27, 2022

Source: Advanced Textiles Association (ATA)

Compamed 2022: Greater Comfort And Longer Wear Time With Freudenberg’s Elastic Superabsorbers For Wound Dressings

WEINHEIM, Germany— October 27, 2022 — Freudenberg Performance Materials has just launched an elastic variant of its flexible superabsorbers for modern wound dressings. These superabsorbers increase the comfort level for patients as well as enabling longer wear time, thus reducing the frequency of dressing changes. Freudenberg is debuting the elastic superabsorbers at this year’s Compamed in Düsseldorf. Further highlights at the trade fair include components for more sustainable wound care, PU foams with directly applied silicone adhesives, and an innovative hydrophilic debridement foam. The global manufacturer will be welcoming visitors to Stand H01 in Hall 8b from November 14-17, 2022.

Freudenberg uses a new technology to manufacture the elastic superabsorbers. Unlike other methods, this technology does not perforate or slit the material, thus achieving a high degree of consistent elasticity. Furthermore, the technology used by Freudenberg bonds the superabsorbent fibers more uniformly with the material, thus enhancing the integrity of this layer in the wound dressing.

“Our new elastic superabsorbers demonstrate yet again how Freudenberg components help increase comfort for patients, reduce the workload for nursing staff and lower healthcare costs. Our extensive technology platform and our innovative strength are the basis for this,” said Dr. Henk Randau, senior vice president and general manager, Global Division Healthcare at Freudenberg Performance Materials.

Further highlights

Freudenberg is also presenting the M 1714 wound pad component, one example of a sustainable solution that simultaneously delivers on performance. The dressing consists of bio-based fibers and exhibits a smooth wound contact layer. M 1714 has been evaluated for industrial compostability and conforms to ISO 13432. This enables certification of the product biodegradability.

Wound dressing with silicone adhesive border

With Freudenberg’s silicone coated foams, manufacturers can reduce the number of process steps, thereby avoiding waste, saving energy and simplifying the supply chain. Compared with conventional foam dressings, the Freudenberg foam product also offers higher flexibility for optimal wound bed contouring and reduces the risk of infection by preventing exudate pooling. Freudenberg is showcasing the prototype of a bordered dressing with a silicone adhesive border. In addition, the variant with an extra-strong silicone border enables longer wear time, thus generating less waste.

More effective cleansing results and greater patient comfort

Freudenberg is also showcasing an innovative hydrophilic debridement foam. It is ideally suited for use in wound cavities, offers better cleansing results and reduced risk as well as greater patient comfort.

Posted: October 27, 2022

Source: Freudenberg Performance Materials Holding SE & Co. KG (Freudenberg)

Exploring Dyeing For Good: Officina39 Takes Part At Design Events In Amsterdam

BIELLA, Italy — October 27, 2022 — On Saturday, October 22, in Amsterdam, Andrea Venier, Officina39 managing director, took part in the Denim & Dyeing seminar to talk about Recycrom™, the patented revolutionary and sustainable dyestuffs range obtained through a cutting-edge upcycling process that involves textile fibers from used clothing and manufacturing waste for dyeing and printing applications.

The seminar was organized inside the Fashion for Good Museum by the Stichting Textielcommissie Nederland, together with a Design Challenge to which took part a selection of young designers who have explored Recycrom’s colorful potential in their creations. The winning designs are exposed in a two-week pop-up show at Fashion for Good Museum.

The Museum is also hosting the “Knowing Cotton Otherwise” exhibition, that highlights the relationship between cotton and the fashion industry, the role of cotton in an increasingly intertwined web of global cultures, and the sustainable innovations driving its circular transformation. Innovative solutions from Fashion for Good Innovators Oritain and Officina39, which tackle some of the challenging aspects of cotton’s production such as origin and traceability, dyeing and water use, are also used by the artists in their installations.

Three of them have been inspired by the ecofriendly dyeing potential of Recycrom: once again the protagonist of the meeting between art and fashion, sustainability and design, past, present and future of the industry. The first artist that has challenged herself is Caithlin Courtney Chong, who has realized an artwork installation with Recycrom in the print room, and a suggestive installation dedicated to Officina39’s sustainable dyestuffs.

Posted: October 27, 2022

Source: Officina39

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