William Blair acted as the lead financial advisor to Ortholite, a portfolio company of Trilantic Capital Partners (Trilantic Capital), in connection with its pending sale to Coats Group plc (LSE: COA) (Coats) for an enterprise value of $770 million excluding value ascribed to tax attributes and a royalty agreement for recently introduced intellectual property that was yet to be commercialized in the market. The transaction is expected to close in September 2025.
About the Companies
Ortholite is the global market leader in open-cell foam insoles with a 36% share of the addressable market. The company operates in an attractive, fast-growing segment of the footwear market with strong tailwinds for growth as brands increasingly adopt open-cell technology due to the superior benefits in terms of comfort, performance, and sustainability. Ortholite supplies over 500 million pairs of insoles a year to around 550 brand customers and has more than 310 co-branding partnerships.
Trilantic Capital is a private equity firm focused on control and significant minority investments in North America. The firm’s primary investment focus is on the consumer and business services sectors. Trilantic North America currently manages seven private equity funds with aggregate capital commitments of $11 billion.
Coats is a global leader in industrial thread manufacturing and structural components for apparel, footwear, and performance materials. Based in the United Kingdom and with a history spanning over 250 years, Coats operates in more than 50 countries and supplies products to over 100 markets worldwide. The company’s business is organized into two primary segments across apparel and footwear and performance materials. The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
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