Newtex Industries Inc. has acquired a distributor of high temperature textiles and fabricated insulation and heat shield products for an undisclosed sum.
Thermostatic Industries Inc. was founded in 1986 by Sonny Lathrop and Alan Goldman and is based in Huntington Park, Calif. The acquisition will add West Coast distribution and expand Newtex’s portfolio of advanced high temperature materials.
With the purchase, Newtex also acquires the distribution rights to 3M Nextel industrial materials.
“There was a unique fit between Thermostatic and Newtex in our approach to doing business,” CEO Jerry Joliet said in a statement. “The business that Sonny and Alan built has always valued technical creativity and strong collaborative relationships with customers, and our goal is to continue that and build on it.”
From its headquarters in Victor, Ontario County, Newtex is a global producer of high temperature materials and engineered solutions for thermal management and fire protection.
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