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Aquafil acquires O’Mara Inc. for $40.5 million

Aquafil S.p.A. finalized in June the acquisition of 100% of O’Mara Incorporated for a total consideration equal to $40.5 million. The deal was completed through the Group’s U.S. subsidiary, Aquafil USA Inc.

O’Mara Incorporated – founded in 1970 – produces nylon, polypropylene and polyester fibers mainly in solution-dyed colors in its plant based in Rutherford College, North Carolina. In 2018, O’Mara reported a turnover of $40.1 million, with margins in line with those of Aquafil Group.

O’Mara will provide access to a broader product range of sectors in the U.S. market, including athletic apparel, hosiery, fashion and accessories.

Also as a result of the production in the U.S, the Group will benefit from the trade agreements between the U.S. federal government and certain Central and South American countries (CAFTA), which allow for exemptions from U.S. tariffs on apparel produced in the latter countries using yarns of U.S. origin.

Aquafil S.p.A. funded the acquisition through a privately placed bond subscribed by Pricoa Capital Group, a member of the U.S. insurance group Prudential Financial Inc., for a total amount of €40 million, with a term of 10 years, including an initial interest-only period of three years, and an annual fixed rate of 1.87%.