Coats, the world’s leading industrial thread manufacturer, has acquired Patrick Yarn Mill, a manufacturer of high-performance engineered yarns based in North Carolina, US. Patrick Yarn Mill specialises in cut-resistant and flame retardant yarns. It also produces yarns from recycled fibres marketed under its earthspun trademarks and with its large solar installation promotes its earth friendly yarns as ‘Spun by the Sun.

Founded in 1963, Patrick Yarn Mill’s unique spinning competencies in engineered performance yarns offer an opportunity to expand Coats’ existing Performance Materials portfolio as well as to extend its innovation capability. Coats will support Patrick Yarn Mill’s expansion into high-growth markets by leveraging Coats' unrivalled geographic footprint, breadth of global customer relationships and strong corporate brand.

Rajiv Sharma, Group Chief Executive, Coats, says Patrick Yarn Mill is an exciting acquisition that supports a key aspect of the growth strategy as it is a dynamic, customer focused company and its unique spinning systems combined with our existing technology portfolio will provide a strong market offering. Gilbert Patrick, President, Patrick Yarn Mill, says that Patrick Yarn Mill becoming part of the Coats family creates opportunities for both companies as there is a lot of synergy between our product offerings and technology.

This acquisition shows Coats’ intent to grow via M&A in Performance Materials and Services, two areas of strategic priority. Gotex, a Spanish company which designs and manufactures high-tech industrial yarns and tapes used in the telecommunications, energy and oil and gas sectors became part of Performance Materials. FRS, a UK based company which provides software solutions and expertise to improve operational efficiency and speed to market in apparel and footwear, became part of Coats Global Services.