# LYCRA Company gains new equity ownership from financial institutions

The LYCRA Company announced that a group of financial institutions (Lindeman Asia, Lindeman Partners Asset Management, Tor Investment Management, and China Everbright Limited) have gained full equity control of the company, following the conclusion of a receivership process related to loan defaults by former parent Ruyi Textile.

- Type: Acquisition
- Announced: 2022-06-30
- Status: completed
- Products: fiber, LYCRA, COOLMAX, THERMOLITE
- Sectors: [Industrial Textiles](https://endata.com/sectors/industrial-textiles.md)

## Companies

- [The LYCRA Company](https://endata.com/companies/37024.md) (target)
- [Lindeman Asia](https://endata.com/companies/63797.md) (investor)
- [Lindeman Partners Asset Management](https://endata.com/companies/63798.md) (investor)
- [Tor Investment Management](https://endata.com/companies/63799.md) (investor)
- [China Everbright Ltd.](https://endata.com/companies/63800.md) (investor)

## Sources

- [fiberjournal.com](https://www.fiberjournal.com/movers-shakers-june-2022-suominen-launches-a-nonwoven-made-with-recycled-paper/), 2022-06-30: "The LYCRA Company, a global leader in developing innovative fiber and technology solutions for the apparel and personal care industries, announced that a group of financial institutions... have gained full equity control of the Company."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.