Coats Group plc (LSE:COA) signed an agreement to acquire Rhenoflex GmbH for an enterprise value of €115 million on August 10, 2022. Under the terms of the transaction, Coats has agreed to pay an Enterprise Value of €115 million, which represents total cash consideration of approximately €110 million after deducting assumed retirement liabilities and other customary adjustments. The deal will be financed via the proceeds of an equity placing including an approximately €109 million share placing to institutional investors share offer to retail investors via the REX platform, of up to 10% of the Coats's issued share capital.

The acquisition is expected to complete by the end of August. Richard Shaw and James Cliffe of Lazard & Co., Limited acted as financial advisor to Coats. B. Metzler GmbH acted as financial advisor to Rhenoflex GmbH.

Ivo Posluschny of Jones Day acted as legal advisor to Findos Investor GmbH. Ash Tiwari of Baker & Mckenzie LLP, London acted as legal advisor to Coats Group plc (LSE:COA). KPMG LLP (United Kingdom), Investment Banking Arm acted as financial advisor to Coats Group plc (LSE:COA).

Jeff Twentyman, Sally Wokes, Caroline Phillips and Charles Osborne of Slaughter and May acted as legal advisor to Coats Group plc (LSE:COA).