Lycra and Coolmax brands owner Invista and Advansa a leading European polyester fibre producer have reached an agreement whereby Invista has acquired Advansa’s assets related to the Specialty Polyester products sector for apparel end uses. The acquisition includes reversion of Advansa’s licensed rights in greater Europe to the Coolmax and Thermolite brands and acquirement of Advansa’s ThermoCool brand, along with all related technologies and key staff.

Today’s announcement, the company says, further represents Invista’s longstanding commitment to the differentiated fibre and apparel industries.

Prior to the transaction, Advansa had license rights to use the Coolmax fabric and Thermolite fabric trademarks in Europe, Middle East and Africa through a license agreement with Invista, the owner of the two brands. Through the acquisition, Invista will market and promote the portfolio of brands and technologies globally, allowing business development for all clients in the apparel textile chain to be more effective and efficient.

“The new unified global business in Specialty Polyester gives Invista’s clients an outstanding spectrum of branded technologies to choose from, encompassing both the warm and cool fabric spaces with the Thermolite and Coolmax brands, respectively, and the ThermoCool brand will enhance our specialties technology portfolio,” said Dave Trerotola, president, Invista Apparel. “We are excited to have the global marketing and commercialization rights for the Coolmax, Thermolite and ThermoCool brands. We look forward to a seamless transition for our global customers.”

The transaction does not include Advansa’s branded home textiles fibrefill business, its specialty fibre businesses for nonwovens and paper industries, or its manufacturing plant in Germany. Advansa will continue to serve its customers with standard and unbranded fibres as before.

"This transaction will significantly strengthen Advansa’s balance sheet and will allow us to focus on new investment opportunities as well as continuing to invest in and strengthen our ongoing retained businesses,” said Dr. Heinz Meierkord, chief executive officer at Advansa.

Key staff and consultants involved in the Advansa business have been hired and engaged by Invista, and sales and critical business support process are already operational. Terms of the acquisition were not disclosed.