Elevate Textiles has finalized terms of a recapitalization transaction that strengthens its balance sheet and enables the fabric maker to reinvest in its global operations.
- Elevate will be owned by a consortium of leading global investment firms, who will soon appoint a new board
- The recapitalization will infuse $100 million of new capital into the business, eliminate $394 million of existing debt and extend the company’s debt maturities until 2027
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