The sale of Opti Zips EMEA to Munich-based private equity firm Aequita will allow industrial thread manufacturer Coats Europe to concentrate its efforts on fostering profitable growth in its core markets, including industrial threads, footwear components, and performance materials.
Coats Group chief executive Rajiv Sharma explains: “The new owners Aequita and the experienced management team will continue serving customers and take the business forward. I wish them well for the future.”
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By divesting the Opti Zips EMEA business to Aequita, Coats says it can streamline its operations and focus on its key strengths and areas of expertise.
In another move to streamline its operations, Coats recently consolidated its footwear activities in Vietnam to provide a specialised focus to each segment of its business, ensuring optimal customer satisfaction and service.
In March the thread manufacturing company launched a new sustainability Hub in India as part of its $10m investment planned over the next five years to develop green technologies and materials and accelerate the delivery of Coats’ emissions reduction targets.
Earlier this year (January), Coats sold its business operations in Mauritius and Madagascar as part of its ongoing plan to ensure regional operating activities take place as close as possible to its customers.
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