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Ocean State Innovations Acquires ColorWorks Increase Textile Products
Monday 13 January 2020

13 January 2020 - Rhode Island-based textile solutions provider Ocean State Innovations has acquired Tennessee-based textile dyer and finisher ColorWorks to further commission dyeing and finishing segment, the company said.
Terms of the transaction were not disclosed.
The ColorWorks team will continue to service a broad array of customers with their commission textile dyeing and finishing needs.
The resources of Ocean State Innovations will add a capability to source a wider array of textile products and to provide a technical knowledge that will help to better serve customers' needs.
Ocean State Innovation's continued strategic growth has received enthusiastic support from Praesidian Capital, which initially invested both first lien debt and equity in B and O/Ocean State.
Ocean State Innovations (a Brand and Oppenheimer company, Inc.) serves the US Military and is bringing its textile expertise to many commercial market segments such as medical, industrial, automotive and traditional apparel.
Praesidian Capital, an investor in Ocean State, is a private investment firm focussed on providing senior and subordinated debt along with growth capital to private lower middle market business in the United States, United Kingdom, German, and selectively in Northern Europe.
Date Published: 13/01/2020
Target: ColorWorks
Country: USA
Sector: Clothing/Textiles
Type: Corporate acquisition
Status: Closed
Buyer: Ocean State Innovations
Terms of the deal were not disclosed