Crypton Acquires Nano-Tex, Expands Into Apparel
Crypton, Bloomfield Hills, Mich., has acquired Oakland, Calif.-based Nano-Tex from a group of investors including New York City-based majority stakeholder WL Ross & Co. LLC; Norwest Venture Partners and Firelake Capital Management LLC, Palo Alto, Calif.; Masters Capital Nanotechnology Fund, Chicago; and Masters Capital Management LLC, Atlanta.
Nano-Tex’s proprietary nanotechnologies, used primarily on branded apparel and outdoor gear, include permanent stain and water repellency, moisture management, odor control, static elimination and wrinkle resistance.
Crypton was established in 1993 to offer a comfortable, breathable alternative to the vinyl-coated and plastic upholstery fabrics that were being used in hospitality, healthcare and institutional settings at the time. The company has developed its own patented stain- and water-repellent, moisture-barrier and antimicrobial technologies for its fabrics for contract and residential upholstery, mattresses, home fashion accessories, pet beds, children’s furniture and car seats, as well as contract wall coverings and carpet.
The Nano-Tex acquisition enables Crypton to enter the consumer apparel and outdoor gear markets.
“As we got out into the consumer world, we began to see all the opportunities that existed with the consumer,” said Randy Rubin, chairman, The Crypton Companies. “Actually, all these outdoor apparel companies started asking us to help them. Nano-Tex had already penetrated that market, so we worked on acquiring them and closed January 1,” she added.
“The intellectual properties and latest development, Aquapel®, a non-fluorinated repellency treatment, are very exciting to our research team,” Rubin said. “The pairing of two great performance textile brain trusts will only be enhanced by the shared technology of the two companies. We will each bring new resources to this union, which will only strengthen us both in the retail and contract marketplace.”
Nano-Tex now operates as a wholly owned subsidiary of Crypton and is based in Bloomfield Hills.