Wednesday, July 26, 2017 (Victor, New York) — For Immediate Release
Newtex announced today that it has completed its acquisition of Thermostatic Industries, Inc., a leading distributor of high temperature fabrics and fabricated insulation and heat shield products based in California. Through this acquisition, Newtex adds West Coast distribution, expands its portfolio of advanced high temperature fabrics, and extends its leadership position in custom fabricated solutions for thermal management and fire protection. Newtex also acquires the distribution rights to 3M™ Nextel™ ceramic fabrics with this transaction.
Thermostatic was founded in 1986 by Sonny Lathrop and Alan Goldman, talented Hollywood musicians who became technically proficient in selling advanced high temperature fabrics and helping industrial customers solve challenging thermal management problems.
In the past 10 years, Mr. Goldman has grown the business while maintaining a collaborative approach to solving customer challenges.
Regarding the acquisition, Jerry Joliet, CEO at Newtex said, “There was a unique fit between Thermostatic and Newtex in our approach to doing business. 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.”
Following the acquisition, Thermostatic operations moved to a new, modern facility at 9654 Hermosa Ave in Rancho Cucamonga, California. The Thermostatic facilities in Huntington Park and Pomona are no longer operational. With Thermostatic on the West Coast, Newtex will be able to better serve customers in all geographic regions with shortened lead times and extended customer service hours.
