Coats Group plc (LSE:COA) signed a definitive agreement to acquire Texon International Group Ltd from Navis Capital Partners and others for approximately $210 million on July 6, 2022. For the year ended December 31, 2021, Texon generated revenue of $132 million, EBITDA of $21 million, and adjusted operating profit of $17 million. The acquisition is expected to complete in July.

Lazard & Co., Limited acted as financial advisor to Coats Group plc. Paul DiGiacomo, Karen Cheung, and Mireille Chan of BDA Partners and William Blair acted as financial advisors to Navis Capital Partners. Caroline Phillips and Daniel Schaffer of Slaughter and May acted as legal advisors to Coats Group plc (LSE:COA).

Bryan Koo of Clifford Chance, Hong Kong acted as legal advisor to Navis Capital Partners.