Sheertex Secures New Ownership Through A Strategic Acquisition By AYK International

Sheertex has found a lifeline in its home province, with troubled parent SRTX Inc. agreeing to sell the brand’s core assets to A.Y.K. International Inc., a Quebec based hosiery manufacturer that owns the Secret and Silks pantyhose labels. The deal follows months of strategic review and will be pursued under court supervised insolvency protections as SRTX seeks approval to complete the transaction.

A Distressed Sale to a Local Rival

Montréal area SRTX, known for its unbreakable Sheertex tights made from a proprietary polymer several times stronger than steel wire, has struggled with heavy losses and debt despite raising more than $250 million in equity and debt since 2017. After warning in late 2025 that it might sell the business and putting large portions of its workforce on leave, the company has now reached an agreement in principle to sell to fellow Quebec hosiery player A.Y.K. International.

According to statements cited by Bloomberg and Canadian Press, SRTX will file a notice of intention (NOI) under Canada’s Bankruptcy and Insolvency Act, providing an orderly framework to seek court approval for the sale. The value of the transaction has not been disclosed, and certain assets, such as the lease on SRTX’s Pointe Claire facility and some machinery, are explicitly excluded from the deal.

What AYK is Buying

Under the agreement, A.Y.K. International is expected to continue operating the Sheertex brand and commercialising SRTX’s proprietary knit technology, preserving the core consumer proposition around rip resistant hosiery. However, SRTX says fewer than 10 employees will transfer to the buyer, with only a small transition team currently remaining at the company after several rounds of layoffs.

AYK’s portfolio already includes the mass market Secret and Silks lines, along with socks, gloves, hats, and bags, giving it scale, distributio,n and category experience that Sheertex lacked. CEO Dan Abitan said, “We have long admired Sheertex — not only for its innovation, but for its deep commitment to its craft and its customers.”

What the Deal Means

For consumers, the clearest signal in SRTX’s statements is that Sheertex will continue to exist under AYK, with its core technology carried forward even as the corporate shell is restructured. For employees and the local manufacturing ecosystem, the impact is harsher: most jobs at SRTX do not appear to be transferring, highlighting how difficult it has been to sustain high cost, innovation heavy textile production in Canada at DTC scale.

At an industry level, the sale highlights a common pattern in performance apparel and materials science: breakthrough IP and strong brand storytelling can win global attention, but sustained profitability often requires the operational backbone and category know how of more traditional manufacturers. With AYK stepping in, Sheertex shifts from venture backed disruptor to part of a more conventional hosiery portfolio, still innovative, but now tasked with proving it can be a durable business, not just a viral product.