Coats acquires the OrthoLite company

OrthoLite reportedly supplies more than 500 million pairs of insoles each year.

Coats Group plc has signed a definitive agreement to acquire insole producer OrthoLite Holdings for an initial ‘Enterprise Value’ of USD 770 million (GBP 582.5 million). A further contingent payment of up to USD 10 million (GBP 7.6 million) will be payable, based on potential ‘earnings before interest, taxes, depreciation and amortisation’ (EBITDA) performance in 2025. The transaction is expected to close in the fourth quarter of 2025. The deal also includes Cirql, a newly developed proprietary foam technology targeting the midsole market, and follows Coats’ purchase of Texon and Rhenoflex in 2022.

Commenting on the acquisition, Coats Group chief executive David Paja said: “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 sector with a shared vision for innovation and sustainability and with unparalleled brands and customer relationships.”

Glenn Barrett, founder and CEO of OrthoLite, added: “I’m excited to merge OrthoLite, the footwear innovation business that I founded 28 years ago, with Coats Group plc. 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.”

OrthoLite is said to supply over 500 million pairs of insoles annually to around 550 brand customers. The company has a strategically located global footprint of 14 production facilities.

Publishing Data

This article was originally published on page 2 of the September 2025 issue of SATRA Bulletin.

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