ATLANTA — December 19, 2017 — Smith, Gambrell & Russell LLP (SGR) is pleased to announce the firm served as legal counsel to Patrick Yarn Mill Inc., a manufacturer of high performance industrial yarns, in its acquisition by Coats Group PLC, an industrial thread manufacturer. Benefitting from Coats’ strong corporate brand and global footprint, the acquisition creates market growth opportunities for Patrick Yarns while enhancing Coats’ capabilities in the engineered textile industry.
Based in North Carolina, Patrick Yarns uses innovative technology and “green” processes such as solar installation along with recycled earth-friendly materials, including its EarthSpun® yarns to produce quality textile solutions for its clients. Since its founding in 1963, the engineered yarn manufacturer has successfully delivered flexible, cutting edge textile applications which exceed the ever-changing needs of the market. With its synergies in product offerings and technological innovation coupled with its recent strategic acquisitions, England-based Coats is a natural complement to Patrick Yarns.
The SGR Atlanta legal team included John C. Ethridge, Jr., Nicholas Rueter, and Nicholas Flint in the Mergers & Acquisitions Practice.
Posted December 19, 2017
Source: Smith, Gambrell & Russell LLP