Deloitte advises on the sale of Fast React Systems Limited (‘Fast React’) to Coats Group Plc
Derby-headquartered Fast React poised for growth
Deloitte has acted as lead corporate finance and tax adviser on the sale of Fast React, a Derby-based software provider to the fashion industry, to the UK business Coats Group Plc, the worlds largest manufacturer and distributor of sewing thread and supplies.
Fast React provides software solutions and expertise to help manufacturers, sourcing companies, brands and retailers in the apparel and footwear industries to improve operational efficiency and speed to market. Fast React becomes part of Coats Global Services (CGS) with immediate effect.
Fast React has 76 employees spread across six countries. Its head office is in Derby, UK, where half of its employees are based. In addition, Fast React has employees in Bangladesh, Sri Lanka, China, Korea and Hong Kong.
The shareholders of Fast React were advised on corporate finance and tax aspects by Deloitte’s team in Nottingham. David Jones, Corporate Finance Partner, commented , “This is a fantastic result for Fast React and Coats Group Plc. We have worked with Andrew and the rest of the team at Fast React for some time and it is clear they have built strong brand in the market. I am sure the company will go from strength to strength under its new ownership. I am thrilled we have delivered another good result for a local Midlands company.”
Stephen Hill of Eversheds Nottingham provided legal advice.
Andrew Brown, Group Managing Director of Fast React, said: “This is a huge opportunity for Fast React Systems, our customers and employees. The combination of our specialist expertise with the global reach and also the customer and brand relationships of Coats marks the start of an exciting new phase in our development. Both Deloitte and Eversheds have provided valuable, expert guidance through the acquisition process.”
Coats is the world’s leading industrial thread manufacturer serving the apparel and footwear industries. It operates across six continents, at some 50 sites and has a sales presence in over 100 countries. It is a key supplier to the world’s leading apparel and footwear brands.
Coats Global Services is a dedicated business, which provides the sewn product industries with expertise, technical guidance and a growing number of specific, practical solutions to achieve productivity and supply chain improvements. Coats and Fast React Systems share a footprint of both existing and target customers. There is a strong synergy between Fast React Systems' products and the offering of Coats Global Services, which when combined together provide an even wider and more attractive product portfolio to the existing and potential customers of both companies.