Coats Group, an industrial thread manufacturer, completed the acquisition of Texon, a footwear solutions provider, from Navis Capital, a private equity firm, for $237m. "The acquisition of Texon will strengthen our existing presence in the highly attractive athleisure footwear market. The business is complementary to Coats and provides attractive future commercial opportunities as we work together leveraging our combined expertise and knowledge to succeed with our customers. We recognise and share Texon's focus on sustainability and innovation and believe that this acquisition strengthens our ability to fulfil these shared ambitions," Rajiv Sharma, Coats CEO.