Bluewater Manufacturing Acquired by Safety Products Group

Total Page:16

File Type:pdf, Size:1020Kb

Bluewater Manufacturing Acquired by Safety Products Group

Press Release For Immediate Release

BlueWater Manufacturing Acquired by Safety Products Group

Chaska, MN (January 30, 2014): BlueWater Manufacturing, Inc., a leading manufacturer of pre- engineered, modular guardrail systems, announced today that it has been acquired by Safety Products Group. Under its lead brand, SafetyRail 2000, BlueWater has provided its industrial and commercial customers easy-to-install, non-penetrating roof top safety solutions since 2001.

The acquisition of BlueWater complements and expands Safety Products Group’s strategy in the fast-growing workplace safety space. In September 2012, Safety Products Group acquired Houston-based FabEnCo, the leader in industrial safety gates for fall protection applications as well as access control, pedestrian traffic control, security and machine guarding. The addition of BlueWater will allow the company to better serve its customers with a broad range of complementary safety products and solutions. Both companies manufacture highly-engineered safety solutions allowing building owners and end-users to increase safety at height while saving the time and expense of buying component pieces from various suppliers or fabricating their own product.

Safety Products Group was formed in 2012 to acquire FabEnCo. Gemini Investors was the lead institutional investor, joined by TMW Enterprises and Akoya Capital Partners. According to Jeffrey Newton, Managing Director at Gemini Investors, “The back-to-back acquisitions of FabEnCo and BlueWater create a formidable platform in the workplace safety space. The addition of BlueWater brings critical mass, expands our customer base and product line to better serve the growing demand for collective safety products.”

Philippe Suhas, CEO of Safety Products Group, noted, “We are thrilled to add BlueWater’s capabilities. We are creating a leader in collective safety products by combining two of the best known and highly-regarded brands in the safety sector, along with their complementary teams and capabilities. BlueWater’s principals have introduced a number of new products, several of which are patented. We expect that culture of innovation to continue." Greg Kenton, Founder and President of BlueWater, who will serve on the Board of Directors of Safety Products Group, said, “The backing we have received from our new private equity partners ensures that BlueWater is positioned not only to meet the needs of our clients today, but into the future as well. All of us at BlueWater are excited to join forces with FabEnCo and enhance our combined opportunity."

About BlueWater Based in Chaska, Minnesota, BlueWater is a leading manufacturer of pre-engineered, modular guardrail systems. Since 2001, BlueWater has been manufacturing the versatile, easy-to-install SafetyRail 2000 guardrail which has become the leading product for non-penetrating fall protection solutions for roof edge safety applications. BlueWater also offers modular rail and barrier systems (Kwik-Rail and Kwik-Guard) for interior fall protection applications as well as a self-closing safety gate (GuardDog). For more information, visit www.bluewater-mfg.com.

About FabEnCo Based in Houston, Texas, FabEnCo is the market leader for self-closing industrial safety gates. The FabEnCo brand has been providing high-quality, easy-to-install American-made safety gates to a wide array of industrial clients for over 45 years. Applications include OSHA-compliant fall protection as well as access control, security, pedestrian traffic management and machine guarding for openings at ladders, platforms, stairs, catwalks and mezzanines. For more information, visit www.safetygate.com.

About Our Investors:

Gemini Investors, founded in 1993, provides capital and strategic resources to companies at the lower end of the middle market. Since its inception, Gemini has invested over $600 million in more than 100 companies. Gemini offers a wide range of financing structures, including subordinated debt, preferred stock and common equity. Gemini has made investments in a wide range of industries, including business services, later-stage technology, health care services, manufacturing, distribution, for-profit education, and consumer products and services. In 2009, the Small Business Administration selected Gemini from among 300 current Small Business Investment Companies (SBIC) funds as the inaugural winner of the SBIC of the year award. For more information, visit www.gemini-investors.com .

TMW Enterprises is a boutique investment company actively managing assets in Private Equity, Marketable Securities, Real Estate and Philanthropy. TMW’s private equity activities, unlike most traditional private equity firms, have deep roots and experiences in industrial entrepreneurship. For more information, visit www.tmwent.com .

Akoya Capital Partners is a sector-focused private equity firm. The company brings together industry leaders, investment worthy executives and private sources of capital to execute acquisition-based strategies, creating significant value for sellers, management, and investors. Akoya focuses on investments in companies that operate in its target sectors and has completed eleven deals representing over $350 million in transaction value and $410 million in revenue. For more information, visit www.akoyacapital.com.

Recommended publications