Aquafil strengthens its position in the U.S.

Home News Aquafil strengthens its position in the U.S.

Arco, Italy—Aquafil S.p.A has finalized the acquisition of O’Mara Incorporated for a total consideration equal to $40.5 million. The deal was completed through the group’s U.S. subsidiary, Aquafil USA Inc.

O’Mara Incorporated, founded in 1970, produces nylon, polypropylene and polyester fibres mainly in solution-dyed colors in its plant based in Rutherford College, N.C. In 2018, O’Mara reported a turnover of $40.1 million, with margins in line with those of Aquafil Group.

O’Mara’s identity and market positioning are fully consistent with those of Aquafil Group. This compatibility accelerates the globalization process of the textiles business, with positive consequences for Econyl and Dryarn products as well. O’Mara will provide access to a broader product range, thereby driving further development of the U.S. market in the sectors of athletic apparel, hosiery, fashion and accessories.

Aquafil S.p.A. funded the acquisition through a privately placed bond subscribed by Pricoa Capital Group, a member of the U.S. insurance group Prudential Financial Inc., for a total amount of €40.0 million, with a term of ten years, including an initial interest-only period of three years and an annual fixed rate of 1.87%.

 

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