VICTOR, N.Y. — July 26, 2017 — Newtex announced today that it has completed its acquisition of Thermostatic Industries Inc., a distributor of high temperature textiles and fabricated insulation and heat shield products based in Huntington Park, Calif. Through this acquisition, Newtex adds West Coast distribution, expands its portfolio of advanced high temperature materials, and extends its leadership position in custom fabricated solutions for thermal management and fire protection. Newtex also acquires the distribution rights to 3M Nextel industrial materials with this transaction.
Thermostatic was founded in 1986 by Sonny Lathrop and Alan Goldman, talented Hollywood musicians who became technically proficient in selling advanced high temperature textiles and helping industrial customers solve challenging thermal management problems. In the past 10 years, Goldman has grown the business while maintaining a collaborative approach to solving customer challenges.
Thermostatic operations will continue in Los Angeles making it easy for Newtex to serve customers in all geographic regions with shortened lead times and extended customer service hours.
Regarding the acquisition, Jerry Joliet, CEO, Newtex said: “There was a unique fit between Thermostatic and Newtex in our approach to doing business. The business that Sonny and Alan built has always valued technical creativity and strong collaborative relationships with customers, and our goal is to continue that and build on it.”
Posted July 26, 2017