Coats Group sews up deal for Derby firm

Fast React Systems (FRS), a Derby-based software provider to the fashion industry, has been sold to Coats Group, the world’s largest manufacturer and distributor of sewing thread and supplies.

Fast React Systems provides software and expertise to help manufacturers, sourcing companies, brands and retailers in the apparel and footwear industries to improve operational efficiency and speed to market. FRS becomes part of Coats Global Services (CGS) with immediate effect.

Fast React Systems has 76 employees spread across six countries. Half of its employees are based in Derby, but it also has bases in Bangladesh, Sri Lanka, China, Korea and Hong Kong.

Andrew Brown, Group Managing Director of Fast React, said: “This is a huge opportunity for Fast React Systems, our customers and employees. The combination of our specialist expertise with the global reach and also the customer and brand relationships of Coats marks the start of an exciting new phase in our development. Both Deloitte and Eversheds have provided valuable, expert guidance through the acquisition process.”

The shareholders of Fast React were advised on the sale from both a corporate finance and tax perspective by Deloitte’s team in the Nottingham practice and from a legal perspective by Stephen Hill, Eversheds Nottingham.