Global industrial manufacturer Milliken & Company has just announced that it has signed an agreement to acquire Polartec, LLC from Versa Capital Management.

Versa acquired the assets of the former Malden Mills in 2007 through the then 101-year-old textile manufacturer’s third reorganization. Working with management, the business was transformed, renaming the company Polartec, reorienting it toward a technology- and innovation-led growth strategy, and revamping the company’s leadership, operations, manufacturing footprint and customer relationships.

In 2015, Polartec announced it was closing its long-time Lawrence factory.

“Milliken provides the perfect platform to ensure the continuation and acceleration of the success of the Polartec brand after years of complex and transformative business repositioning by CEO Gary Smith and his team,” said Greg Segall, CEO of Versa and chairman of Polartec. “It has been a great collaboration with Gary and all of Polartec’s valued employees, and we are proud of all that has been accomplished during Versa’s ownership—notably the feat of reviving an American textile icon and powerful global brand into an enterprise equipped to succeed in today’s highly competitive markets. 

Smith says that Milliken is "the best possible ‘natural owner’ of a brand with Polartec's pedigree" and that he's looking forward to the integration of the two companies. 

The acquisition will be finalized this month. 

Related

Polartec Factory, Lawrence, MA

Steve Layton is Polartec's new president

On the heels of Milliken & Company's acquisition of Polartec, Steve Layton was named president of the brand. To start off, Layton will lead the integration of Polartec's outdoor and military apparel fabric technologies into Milliken, a 154-year-old leader in textile ...read more

Lawrence

Polartec: A new chapter for the storied company that has survived a fire, bankruptcies, and manufacturing’s flight overseas

The history of what is now outdoor clothing fabric manufacturer Polartec is essentially a tale of two companies.  Long known as Malden Mills, the Massachusetts company revolutionized the outdoor industry by inventing synthetic fleece, but it also stumbled financially and ...read more

Bonne Gueule Blouson Epais Laine Cardee

2018's finest Polartec products

For more than 20 years, Polartec has celebrated the designers who turn Polartec fabric into some of the finest technical products. This year, 14 outdoor, bike, lifestyle, and fashion brands took home the textile company's coveted Malden statues. See this years' winners for ...read more

On Polartec's "About Us" page, it touts its long history and move to Lawrence, Mass., in 1956 "for innovation."

Polartec to close Massachusetts factory

Twenty years after a fire destroyed Polartec's factory and its CEO spent millions to keep paying employees during reconstruction, the company has announced it will close its Lawrence, Mass., facility and move operations elsewhere. Over the next few years, Polartec plans to ...read more

Fjallraven booth at Outdoor Retailer Snow Show 2019

Show floor buzz: Greg Thomsen, NPD Group, Polartec, Outdoor Business Climate Partnership, our favorite booth, and more

Keep up on the news, even among the trade show madness. Here are today's top headlines: Have a news tip? Email us at snewsedit@aimmedia.com. During the Industry Breakfast, Outdoor Industry Association (OIA), Snowsports Industries America (SIA) and the National Ski Areas ...read more

coastline with cliffs and a waterfall under an ominous sky

Industry Buzz: Grassroots, Chris Burkard, free national park day, The Voice, ditching single-use plastic, Polartec & spiders, ACT Labs, and more

Keep up by reading Industry Buzz. Here are today's top headlines: Have a news tip? Email us at snewsedit@aimmedia.com. This Saturday, visit your favorite National Park for free. The entrance-fee waiver is in celebration of National Parks Week. Grassroots Outdoor Alliance ...read more

Columbia and Star Wars

Industry Buzz: Star Wars, Lowa, Mountain Hardwear, Polartec, GearJunkie.com, and more

Keep up by reading Industry Buzz. Here are today's top headlines: Have a news tip? Email us at snewsedit@aimmedia.com. If you've ever wanted to look the part of someone in Star Wars, well, Columbia Sportswear is making those dreams come true. This Friday, Columbia is releasing ...read more

ApexWinners_2019_Detail_66North_1_HR

Industry Buzz: Polartec Apex Awards, National Cleanup Day, Poppy Gall, L.L.Bean, EMS, and more

Keep up by reading Industry Buzz. Here are today's top headlines: Have a news tip? Email us at snewsedit@aimmedia.com National Cleanup Day is tomorrow. If you're participating, make sure to tag your photos with #trashtag, a movement created by Steven Reinhold of Appalachian ...read more

Photo shows climber wearing a jacket and hat, carrying a rope and eyeing a snow-covered alpine route to a nearby peak.

Meet the newest member of the Polartec family – Power Fill

With people continuing to buy pallets of bottled water, the cycle of single-use products seems continuous. But Polartec has found a way to repurpose the waste. On Wednesday, the brand shared what they’ve been working on: 100-percent post-consumer recycled (PCR) Power Fill ...read more