PE Firm Altor Buys Assets of Bankrupt Textile Firm Renewcell

Swedish private equity group Altor has acquired the remaining assets of Renewcell, creating the new company Circulose, it says in statement.

• Altor will “build on Circulose as the first puzzle piece to create a global champion for next gen materials to replace virgin cotton and MMCF fibers,” it says
• No purchase price was given
• NOTE: Feb. 26, Renewcell’s Board Decides to File for Bankruptcy
• NOTE: March 6, H&M Forms Recycled-Polyester Venture With Northvolt Founders

To contact the reporter on this story:
Charles Daly in Stockholm at stockholmnew@bloomberg.net

To contact the editor responsible for this story:
Kati Pohjanpalo at kpohjanpalo@bloomberg.net ...