Companies

Coats Group acquires OrthoLite

Jul 24, 2025 United Kingdom

The UK-based manufacturer of industrial threads for the apparel and footwear industries is set to acquire the insole manufacturer OrthoLite for an initial enterprise value of 770 million USD

Coats Group has signed a definitive agreement to acquire the insole manufacturer, OrthoLite, for an initial enterprise value of 770 million US dollars. This is subject to certain projections, such as achieving cost synergies by 2028, as well as a contingent payment of up to 10 million US dollars based on potential EBITDA performance in 2025.

The deal, which includes the acquisition of OrhoLite’s subsidiary Cirql, specialising in sustainable foam materials, will enable Coats to accelerate its footwear division’s strategy of becoming a “super tier 2” supplier of footwear components by entering the insole market.

Founded in 1997, OrthoLite has 14 production facilities and supplies over 500 million insoles annually to around 550 brands. Therefore, it holds a 36% share of the global insole market.

“The combination of Coats and OrthoLite is fantastic news for both companies and for the footwear industry. It brings together two global leaders in adjacent segments of the footwear components market with a shared vision for innovation and sustainability and with unparalleled brands and customer relationships”, commented David Paja, Coats Group Chief Executive Officer.

Glenn Barrett, the founder and CEO of OrthoLite, also expressed his satisfaction with the deal. “This alliance forms a powerful partnership of industry leaders to provide a platform for OrthoLite and Cirql to continue to serve our customers with the most innovative and sustainable footwear components in the world”.

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United Kingdom Acquisitions Coats Group Companies Footwear Footwear Components OrthoLite