Peel Hunt is delighted to have acted as Joint Bookrunner and Joint Corporate Broker to Coats Group plc on its successful £246m capital raise to part fund the acquisition and associated costs of OrthoLite Holdings LLC the global market leader of premium insoles, for an enterprise value of $770 million.
The Acquisition accelerates Coats Footwear division's strategy to create a 'super tier 2' supplier in footwear components, strengthening its product offering to brands through the entry into the attractive fast growing open-cell premium insole segment of the market. The acquisition of a high-quality business improves the overall quality of Group earnings, shifting the balance towards its high growth, high margin footwear segment.
The transaction is subject to customary regulatory clearances and is expected to close in Q4 2025.
Coats Group plc is the world's leading industrial thread and global footwear component manufacturer. Coats is listed on the FTSE 250 index, with a market capitalisation of c.£1.3bn.
The Peel Hunt team for Coats
Industrials Investment Banking – Mike Bell, Dom Convey, Tom Graham, Megan Kelly
Equity Capital Markets – Sohail Akbar, Nicolas Wilks, Ambika Bose
Investor Relations - Beverley Keeble
“We are delighted to have supported Coats in delivering this transformational transaction. This makes a strong statement about the ability of UK equity markets to back world leading businesses to deliver on their growth strategies.”
