Smith, Gambrell & Russell Represents Patrick Yarn Mill in Acquisition by Coats
ATLANTA (December 18, 2017) – Smith, Gambrell & Russell, LLP (SGR) is pleased to announce the firm served as legal counsel to Patrick Yarn Mill, Inc. (Patrick Yarns), a world-leading manufacturer of high performance industrial yarns, in its acquisition by Coats Group PLC (Coats), the world’s leading industrial thread manufacturer. Benefitting from Coats’ strong corporate brand and global footprint, the acquisition creates market growth opportunities for Patrick Yarns while enhancing Coats’ capabilities in the engineered textile industry.
Based in North Carolina, Patrick Yarns uses innovative technology and “Green” processes such as solar installation along with recycled Earth-friendly materials, including its EarthSpun® yarns to produce quality textile solutions for its clients. Since its founding in 1963, the engineered yarn manufacturer has successfully delivered flexible, cutting edge textile applications which exceed the ever-changing needs of the market. With its synergies in product offerings and technological innovation coupled with its recent strategic acquisitions, UK-based Coats is a natural complement to Patrick Yarns.
The SGR Atlanta legal team included John C. Ethridge, Jr., Nicholas Rueter, and Nicholas Flint in the Mergers & Acquisitions Practice.
About Patrick Yarn Mill
As a world-leading manufacturer of high performance industrial yarns, Patrick Yarns is ready to meet the challenges of today's most demanding applications. We combine over 50 years of experience with cutting-edge technology to achieve breakthrough solutions and create powerful results for our clients. For more information, visit www.patrickyarns.com.
About Coats Group
With a rich heritage dating back to the 1750s, Coats is the world’s leading industrial thread manufacturer and a major player in the Americas textiles crafts market. Headquartered in the UK we employ 19,000 employees in over 60 countries across six continents around the world. For more information, visit www.coats.com.
About Smith, Gambrell & Russell, LLP
SGR is a full service, international law firm that advises regional, national and global businesses on a wide range of legal matters. The firm’s more than 220 attorneys provide legal counsel in more than 45 specialized practice areas, including corporate transactions, litigation, intellectual property, aviation, banking, real estate, construction and employment law. Founded in 1893, SGR has offices in Atlanta, Austin, Jacksonville, London, Los Angeles, Munich, New York, Southampton, and Washington, D.C.
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