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Home / News / Aquafil acquires O’Mara Incorporated for $40 mn

Aquafil acquires O'Mara Incorporated for $40 mn

Jun '19
Pic: Aquafil
Pic: Aquafil
Aquafil SpA has finalised acquisition of 100 per cent of O’Mara Incorporated through a privately placed bond subscribed by Pricoa Capital group for a total amount of €40 million with a term of 10 years including an initial interest-only period of 3 years and annual fixed rate of 1.87 per cent. The deal was completed through its US subsidiary Aquafil USA Inc.

O’Mara Incorporated, founded in 1970, produces nylon, polypropylene and polyester fibres mainly in solution-dyed colours in its plant based in Rutherford College, North Carolina. In 2018, O’Mara reported a turnover of $40.1 million, with margins in line with those of Aquafil Group, said a press release from Aquafil.

O’Mara’s identity and market positioning are fully consistent with those of Aquafil Group. This compatibility accelerates the globalisation 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 US market in the sectors of athletic apparel, hosiery, fashion and accessories.

As a result of the production activity in the US, the Aquafil group will also benefit from the trade agreements between the US federal government and certain Central and South American countries (CAFTA), which allow for exemptions from US tariffs on apparel produced in the latter countries using yarns of US origin.

Aquafil has been one of the leading players, both in Italy and globally, in the production of Polyamide 6: a landmark in terms of quality and product innovation. Additionally, the group is a leader in the research of new production models for sustainable development. (PC)

Fibre2Fashion News Desk – India

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