06 Apr 2026
Deal: Trilegal acted as the Indian counsel for Coats Group in its USD 770 million strategic acquisition of Ortholite Holdings LLC
24 Jul 2025
24 Jul 2025
Coats Group plc (Coats), a company listed on the London Stock Exchange has signed a definitive agreement to acquire OrthoLite Holdings LLC (OrthoLite), the global market leader of premium insoles, for an initial enterprise value of USD 770 million.
Trilegal represented Coats on the Indian legal aspects of the acquisition transaction, including conducting comprehensive legal due diligence on OrthoLite’s Indian footprint.
The consideration will be funded through a combination of new debt facilities with Coats’ existing lenders and proceeds of an equity placing of up to 19.99% of issued share capital. The transaction is expected to close in Q4 2025.
This transaction marked Coats’ strategic USD 770 million acquisition of OrthoLite, a global leader in open-cell foam insoles, to establish itself as a “super tier 2” supplier in the footwear components sector. The deal is notable for its combination of scale, innovation, and sustainability – bringing together OrthoLite’s patent portfolio (including its biodegradable or fully recyclable Cirql™ midsole technology), global manufacturing footprint, and around 550 brand customers.
The Trilegal Corporate Team advising on the matter was led by Partner: Delano Furtado; and supported by Counsel: Saumya Kakar; and Associates: Ridhi Shetty, Rhea Almeida, Anoushka Gahilot, and Punit Sanwal.
The Trilegal Labour & Employment Team advising on the matter was led by Partner: Parvathy Tharamel; and supported by Associates: Koshy Mathen and Lekha Suki
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About Trilegal
Trilegal is a leading full-service law firm in India with over 25 years of experience, trusted for its in-depth expertise and client-centric approach. The firm advises a diverse set of clients, including Fortune 500 companies, global investment funds, major Indian conglomerates, domestic and international banks, technology and media giants, family offices, and high-net-worth individuals. With more than 140 partners operating under a distinctive lockstep model, Trilegal is the largest equity partnership in the country. The firm retains over 1,100 professionals across Mumbai, Delhi, Bengaluru, and Gurugram offices.
Trilegal has consistently been recognised among India’s top-tier firms in leading legal directories such as Chambers & Partners (Asia Pacific and Global), Legal 500 Asia Pacific, and Benchmark Litigation. It has also earned several prestigious accolades, including being named Best Overall Law Firm by India Business Law Journal (IBLJ) 2025, Innovative Lawyers in Disputes & Crisis Management by the Financial Times (FT) Innovative Lawyers Asia-Pacific Awards in 2025, M&A Firm of the Year by IFLR Asia-Pacific in 2024, Law Firm of the Year by Deal Volume at the VCCircle Awards in 2024, India Deal Firm of the Year at the Asian Legal Business (ALB) India Law Awards in 2023, and Best Law Firm to Work by Vahura in 2022.
For more information, please get in touch with Prakruti Jani | Mob: +91-9867868976 | BD@trilegal.com
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