Linklaters advises on the financing of Coats’ acquisition of OrthoLite for US$770m

A cross-border Linklaters team has advised the banks on the financing of Coats Group’s US$770m acquisition of OrthoLite Holdings LLC, a global market leader of premium insoles.

OrthoLite is a highly complementary addition to Coats due to its customer base, route-to-market, focus on sustainability and global operational footprint, strengthening Coats’ existing footwear business through expansion into the attractive, high-growth premium insole segment.

The acquisition includes Cirql, a newly developed proprietary foam technology launched earlier this year that targets the midsole market with a biodegradable or fully recyclable offering.