Law firms Baker McKenzie, Trilegal, and Kirkland have taken action in the $770 million acquisition of OrthoLite by Coats Group.
In a significant move to bolster its footwear materials portfolio, Coats Group plc has agreed to acquire OrthoLite Holdings LLC for an enterprise value of $770 million. The acquisition, which accelerates Coats' growth strategy to create a super tier 2 supplier in footwear materials, brings together OrthoLite's patent portfolio, including its biodegradable or fully recyclable CirqlTM midsole technology.
Trilegal, a leading Indian law firm, advised Coats Group on the Indian legal aspects of the acquisition. The transaction team was led by Partner Delano Furtado, supported by Counsel Saumya Kakar and Associates Ridhi Shetty, Rhea Almeida, Anoushka Gahilot, and Punit Sanwal. The team conducted comprehensive legal due diligence on OrthoLite’s Indian footprint.
OrthoLite, a global market leader in insole open-cell foam technology, boasts a global manufacturing footprint and around 550 brand customers. Parvathy Tharamel (Partner) and Associates Koshy Mathen and Lekha Suki advised on Labour & Employment aspects.
Baker McKenzie advised Coats Group on this acquisition, while Kirkland & Ellis advised OrthoLite. The transaction team was led by corporate partner Shawn O'Hargan, tax partners Liam Murphy and Vincent Thorn for Coats Group, and London Partner Ash Tiwari, with support from New York Corporate Partners Alan Zoccolillo and Jieun Tak for OrthoLite.
Support for the Coats Group team was provided by Francesca Storey-Harris (Partner), Dipak Bhundia (Partner), James Dickson (Partner), Carly Bishop (Associate), and Alan Heisman (Associate). Matt Bratovich (Associate, NY) and Senior Associates Niraj Visani, Priya Shah, and Jack Bliss, along with Trainee Samuel Trevor, also provided support.
No prior context was provided regarding the acquisition of OrthoLite by Coats Group. This acquisition is expected to significantly enhance Coats' position in the global footwear materials market.
The acquisition of OrthoLite Holdings LLC by Coats Group plc, a significant move in the footwear materials industry, was advised by Trilegal in Indian legal aspects. Coats Group, a global player in the business sector, will leverage OrthoLite's technology in sustainable insole foam to strengthen its competitive position in the finance-driven technology arena of the global footwear market.
