Trilegal advised as Indian counsel for Coats Group on USD 770 million strategic acquisition of OrthoLite Holdings LLC
Trilegal acted as Indian counsel to Coats Group PLC, a London Stock Exchange listed company, on its definitive agreement to acquire OrthoLite Holdings LLC, the global market leader in premium insoles, for an initial enterprise value of USD 770 million.
Trilegal advised Coats on the Indian legal aspects of the transaction, including conducting comprehensive legal due diligence on OrthoLite’s operations in India. The deal is structured to be funded through a combination of new debt facilities with Coats’ existing lenders and the proceeds from an equity placing of up to 19.99% of its issued share capital. The acquisition is expected to close in Q4 2025.
The transaction marks a significant strategic step for Coats to position itself as a ‘super tier 2’ supplier in the global footwear components market. The acquisition brings together OrthoLite’s global manufacturing footprint, innovative patent portfolio (including its biodegradable and fully recyclable Cirql™ midsole technology), and a strong customer base of around 550 brands, strengthening Coats’ scale, sustainability, and innovation capabilities.
The Trilegal Corporate Team advising on the matter was led by Delano Furtado (Partner), supported by Saumya Kakar (Counsel), and Ridhi Shetty, Rhea Almeida, Anoushka Gahilot, and Punit Sanwal (Associates). The Trilegal Labour & Employment Team was led by Parvathy Tharamel (Partner), with support from Koshy Mathen and Lekha Suki (Associates).
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