Monday January 6th, 2014 - 11:38AM
BLOOMFIELD HILLS, MI— Crypton Inc. recently acquired Nano-Tex, a textile technology company, from private equity and venture capital investors; WL Ross and Co. LLC as major stockholders.
Nano-Tex 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.
Wilbur Ross, Jr., chairman of WL Ross stated, “We are extremely pleased by Crypton’s acquisition. This assures that Nano-Tex 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 Nano-Tex 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,” added Rubin.
Nano-Tex will now be headquartered at The Crypton Companies in Bloomfield Hills but will maintain sales operations in the US, Asia, India and Europe. In addition, the company will keep distribution centers in Hong Kong, Belgium, Mainland China and the U.S.