Greenwich Capital Group LLC (“GCG”) is pleased to announce it has successfully advised Newtex Industries, Inc. (“Newtex”) on its acquisition of Thermostatic Industries, Inc. (“Thermostatic”). Through the acquisition of Thermostatic, Newtex is able to enhance its product offerings and strengthen its position as a leader in high performance materials and engineered systems for insulation and fire protection. This transaction adds to GCG’s extensive experience advising corporate entities on buy-side transactions.
About Newtex Industries, Inc.
Headquartered in Rochester, New York, Newtex is a leading global producer of high performance materials and engineered solutions for thermal management and fire protection. Newtex is a vertically integrated manufacturer of an expansive portfolio of heat and fire-resistant fabrics, tapes, personal protective apparel and custom high temperature solutions.
About Thermostatic Industries, Inc.
Headquartered in Huntington Park, California, Thermostatic is a distributor of premium high-temperature insulation materials, including 3M Nextel products. With more than 35 years of distribution, product design, and fabrication experience, Thermostatic offers custom, high-performance textile solutions to customers throughout the world.