Global law firm Eversheds has advised leading European polyester fibre producer ADVANSA on the sale of assets used in its branded and speciality polyester products businesses for apparel end uses to INVISTA, owner of the COOLMAX fabric and LYCRA fibre brands.

The Eversheds team was led by corporate partner Alasdair Outhwaite, supported by intellectual property partner Adrian Toutoungi and associates Elizabeth Tindall and Atif Taher, and advised on all corporate, commercial and IP aspects of the deal.

Alasdair Outhwaite said:

“This was an extremely complex deal with an interesting history and many elements that needed to come together to ensure the successful completion. The intellectual property aspect in particular added significant intricacy. We are delighted to have helped this new client achieve their successful goals.”

Dr. Heinz Meirkord, Chief Executive of ADVANSA, said:

"This transaction will significantly strengthen ADVANSA's balance sheet and will allow us to focus on new investment opportunities as well as continuing to invest in and strengthen our ongoing retained businesses. The Eversheds team’s commitment, expertise and strategic execution supported our interests throughout the deal process.”