2014/3/14 USA
CRYPTON INC. has acquired NANOTEX, announced Randy Rubin, Chairman of The Crypton Companies. The privately held, 20-year-old Crypton Fabrics, based in Bloomfield Hills, Michigan, early this year purchased NANOTEX from private equity and venture capital investors; WL Ross and Co. LLC as major stockholders, in addition to Norwest Venture Partners, Masters Capital Nanotechnology Fund, Firelake Capital Management and Masters Capital Management.
“This is a strategic acquisition as we extend our market share with apparel throughout the world. The intellectual properties and latest development, Aquapel, a non-fluorinated repellency treatment, is very exciting to our research team”
NANOTEX is a textile technology company whose performance finishes have enhanced leading consumer brands such as GAP, TARGET, MAIDENFORM, BASS PRO SHOPS, NORDSTROM, LAND’S END, FISHER-PRICE and many more.
NANOTEX employs a proprietary nanotechnology approach to enhance textiles at the molecular level that provides permanent performance attributes such as stain and water resistance, moisture wicking, odor control, static elimination and wrinkle free properties. The end result is performance fabrics that maintain the original comfort, look and feel of the fabric and perform for the life of the product.
In 2013, NANOTEX technologies were on $280 million in branded finished products at retail worldwide.
Wilbur Ross, Jr., Chairman of WL Ross said, “We are extremely pleased by Crypton’s acquisition. This assures that NANOTEX will continue on a strong growth trajectory. Its expanding market reach and prominence will further enhance the competitiveness of WL Ross’s companies in the consumer and industrial fabrics industries, too; the goal that sparked our initial investment interest in NANOTEX eight years ago.”
“This is a strategic acquisition as we extend our market share with apparel throughout the world. The intellectual properties and latest development, Aquapel, a non-fluorinated repellency treatment, is very exciting to our research team,” said Rubin.
When Crypton entered the contract market in 1993, it provided an alternative to vinyl, which had been the go-to product for heavily used upholstered furniture. In revolutionizing performance textiles, Crypton opened the doors for new design opportunities to an entire industry.
A master branding company, Crypton has enjoyed an unparalleled branding trajectory in the interior design community, achieving more than 90 percent brand awareness of their products in the first seven years of business. Today, they are known for their strategic and innovative new product developments, branding techniques and strategies.
