US' Victor Capital sells PrimaLoft to Compass Diversified

PrimaLoft is the world leader in research and development of advanced insulations and fabrics that global brands use to deliver high performance and comfort while also reducing impact on the environment. Victor Capital acquired a majority interest in PrimaLoft in 2017 in partnership with the management team, which maintained a significant investment in the business, the company said in a media statement.

Victor Capital and management collaborated to execute a successful growth plan that dramatically expanded the reach, size, and value of the company. PrimaLoft employees across the globe will receive some proceeds from the sale, thanks to the ‘PrimaLoft Prosperity Plan, which Victor Capital and management put in place to ensure all employees would benefit financially from the growth and success of the business.

The transaction is subject to customary closing conditions, including receipt of required regulatory approvals, and is expected to close in early July 2022. William Blair & Company is serving as lead financial advisor to PrimaLoft along with Baird. Legal advisors to PrimaLoft are Blank Rome.

“We are thrilled with the remarkable progress and value creation delivered by Mike Joyce and the entire PrimaLoft team during our partnership. PrimaLoft has introduced industry-leading innovations, including the successful launch of proprietary, high-performance materials that reduce environmental impact, and we are proud to have contributed our experience and resources to this tremendous success story,” Douglas Korn, founder and managing partner of Victor Capital, said in a statement.

“We are extremely grateful to Victor Capital, who has been a supportive, valued, and trusted partner to the PrimaLoft team. Their partnership has been a driving force behind the ability of our team to develop, advance and amplify our mission to deliver high performance products that reduce impact on the environment. The power of the PrimaLoft brand has grown exponentially during our time together, and our suite of products now includes technologies and sustainability platforms that have further established our position as a leader within our global industries. Our entire team is stronger, and our brand partners now offer higher-quality, more sustainable, differentiated products to consumers around the world,” Mike Joyce, president and chief executive officer of PrimaLoft, said.

ALCHEMPro News Desk (GK)