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Adidas Supplier Gears Up for Growth With $200 Million Raise

Global textile technology company NTX said it has completed nearly $200 million in a C2 round of financing led by Centurium Capital, with additional contributions from existing shareholder NRL Capita, and with Index Capital remaining as the exclusive financial advisor.

The funds will be used to accelerate growth and capitalize the operations needed to meet the quickly rising demand of the company’s expanding customer base. The funding was secured after NTX recently become a preferred supplier to global international brands such as Adidas and continued expansion of its textile manufacturing ecosystem developed around the breakthrough waterless coloration technology NTX Cooltrans.

“Through its proprietary dyeing technology, NTX brought about revolutionary innovation to the global textile supply chain, effectively solving the long-standing pain points of traditional textile manufacturing of high water and energy consumption and pollution,” Gary Liu, managing director of Centurium Capital, said. “In addition, NTX adds significant value to the industry by helping improve their production efficiency and service capabilities. With ESG as an integral part of our ‘invest to transform’ investment thesis, we look forward to a long-term partnership with NTX to make positive contributions to the sustainable development of the global textile supply chain.”

NTX Cooltrans is a breakthrough waterless dyeing and printing system that claims to deliver up to 90 percent in water savings, while significantly reducing energy usage and virtually eliminating water waste. With NTX Cooltrans as a foundation, the company has established a Southeast Asia-based ecosystem of textile processing plants.

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“We welcome the latest round of funding and we’re excited about the future of NTX,” Kalvin Chung, chairman and co-founder of NTX, said. “Over the years, we’ve seen NTX Cooltrans mature into a solution that satisfies and exceeds the requirements of some of the most demanding global brands in the marketplace. Just as important has been the development of our business models that today give us a clear path to scale up NTX into a global supply chain solution provider.”

NXT recently formed a joint venture with global apparel and accessories manufacturer Luen Thai under the name Luentech Textiles Solutions that has already resulted in a new state-of-the-art NTX Cooltrans facility in Cambodia to expand production capacity and satisfy growing demand for green textile supply chain partners. The facility is designed entirely around the newest iteration of its waterless coloration technology.

Centurium Capital is a private equity investment firm in China and primarily focuses on investing in the healthcare, technology, consumer and business services sectors.