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Posted: Jun 14, 2019

Media Investigation: Recordings by Elton John, Nirvana and Thousands More Lost in Hollywood Fire

Eleven years ago this month, a fire ripped through a part of Universal Studios Hollywood. At the time, the company said that the blaze had destroyed the theme park’s “King Kong” attraction and a video vault that contained only copies of old works. But, according to an article published on Tuesday by The New York Times Magazine, the fire also tore through an archive housing treasured audio recordings, amounting to what the piece described as “the biggest disaster in the history of the music business.
- PUB DATE: 6/14/2019 12:00:00 AM - SOURCE: The New York Times - Metered Site
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Posted: Jun 14, 2019

Firefighting is all in the family for the Munroe’s in Maine

First responders never know what they’ll encounter when the call comes in – and so they practice. They participate in training drills on a regular basis. Firefighters, paramedics, troopers and police officers are all a big family– one that has each other’s backs in the face of any emergency. Ralph Munroe works on Ladder 3 out of the Stevens Avenue station – and the notion of family hits pretty close to home for him.
- PUB DATE: 6/14/2019 12:00:00 AM - SOURCE: WCSH-TV NBC 44 Portland
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Posted: Jun 14, 2019

VIDEO: Massive fire injures 2 as it destroys $2M mansion in Texas

Two people are in the hospital after a massive fire destroyed a $2 million mansion in The Woodlands on Palmer Woods. About 15 units from the Woodlands Fire Department were on scene trying to get the flames under control. The conditions were bad upon arrival so the firefighters went into defensive mode, but officials say it will be a total loss.
- PUB DATE: 6/14/2019 12:00:00 AM - SOURCE: KTRK-TV ABC 13 Houston
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Posted: Jun 14, 2019

Spokane Valley Fire Department, Starbucks program to award gift cards to Good Samaritans

The Spokane Valley Fire Department and a local Starbucks have joined forces to award citizens going above and beyond with coffee. "When firefighters respond to a call and find a citizen already on hand helping, they offer more than a thank you," SVFD said in a release. Under the new partnership, the Starbucks at Pines and Sprague has provided a $4 thank you reward card for SVFD crews to give out to Good Samaritans along with their thanks.
- PUB DATE: 6/14/2019 12:00:00 AM - SOURCE: KHQ-TV NBC 6 Spokane
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Posted: Jun 13, 2019

Milliken & Company to Acquire Polartec from Versa Capital Management

SPARTANBURG, SC—Milliken & Company (“Milliken”), a global diversified manufacturer with more than a century and a half of textile expertise, announced that it signed a definitive agreement to acquire Polartec, LLC (“Polartec”), a strong global brand known for its innovative performance textiles for outdoor and military apparel, from Versa Capital Management, LLC (“Versa”). The acquisition is expected to close in June. Financial terms of the transaction were not disclosed. 

Headquartered in Andover, Massachusetts, the Polartec brand carries a respected portfolio of fabric technologies for outdoor apparel, from performance-driven and consumer-focused textiles, to flame-resistant, workwear and military-grade fabrics. The addition of the Polartec brand—particularly its outdoor and fleece textiles—rounds out Milliken’s comprehensive portfolio, allowing the company to deliver unprecedented access to a range of performance textiles for consumers, industrial workers and military personnel around the world.

“Polartec brings a wealth of new and respected outdoor textile expertise to complement Milliken’s strengths,” shared Halsey Cook, president and CEO of Milliken & Company. “The strategic acquisition broadens our textile capabilities with a product offering to now include fleece and soft-shell outerwear, among others, allowing us to grow in new and exciting spaces.”

“With more than 150 years of textile innovation, Milliken is the best possible ‘natural owner’ of a brand with Polartec's pedigree. I look forward to supporting the integration,” said Polartec CEO Gary Smith. "I’m grateful to Versa Capital Management for their support in realizing Polartec’s full potential, and I'm extremely proud of the global Polartec team for their dedication and hard work that put the company in the position it is in today.”

“We look forward to growing Polartec’s strong brand at Milliken,” said Jeff Price, president of Milliken’s Performance and Protective Textiles Division. “Polartec expands our regional manufacturing reach and grows our technological expertise, enabling us to further deliver innovative performance textiles to the global market.” 

“Milliken provides the perfect platform to ensure the continuation and acceleration of the success of the Polartec brand after years of complex and transformative business repositioning by Gary Smith and his team,” said Greg Segall, CEO of Versa and chairman of Polartec. “It has been a great collaboration with Gary and all of Polartec’s valued employees, and we are proud of all that has been accomplished during Versa’s ownership—notably the feat of reviving an American textile icon and powerful global brand into an enterprise equipped to succeed in today’s highly competitive markets. Milliken is the ideal long-term owner for Polartec, and we look forward to seeing the two companies achieve big things together.”

Versa acquired the assets of the former Malden Mills in 2007 through the then 101-year-old textile manufacturer’s third reorganization. Working with management, the business was transformed, renaming the company Polartec, reorienting it toward a technology- and innovation-led growth strategy, and revamping the company’s leadership, operations, manufacturing footprint and customer relationships. 

The transaction is subject to customary closing conditions.

Versa and Polartec were advised by Lazard Middle Market and Sullivan & Cromwell LLP. Milliken & Company was represented by Jones Day.

For more information, visit www.milliken.com.

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