Investcorp, a leading global provider and manager of alternative investment products, announces it has agreed the sale of Kee Safety Group Ltd (“Kee Safety” or “the Company”) to its management team, supported by Intermediate Capital Group.
Established in the UK in 1934 and headquartered in Cradley Heath, Kee Safety is the leading global provider of Fall Protection and Safe Access solutions and products associated with working at height. The Company’s products have a longstanding reputation for their quality, reliability and safety and include fall prevention equipment, roof edge protection, barrier and guardrail systems and safe access solutions. Today, the Company has a global presence and sells its products across more than 60 countries worldwide to a broad range of customers, from multi-national corporations to distributors and installers. The Company employs 780 people and has established operations in 10 countries, including the US and China.
Investcorp acquired Kee Safety in November 2017 and has worked closely with the management team to drive both organic and inorganic international growth, whilst expanding Kee Safety’s market-leading product offering. Under Investcorp’s ownership, Kee Safety accelerated its growth trajectory, surpassing £100m in sales and growing EBITDA at a double-digit rate. Moreover, the Company has completed fifteen acquisitions, expanding its geographic footprint in Europe, North America, Asia and the Middle East. Kee Safety’s regulatory-required offering has demonstrated its defensive profile during the pandemic, with record orders achieved despite the uncertain economic environment, and eight acquisitions completed since January 2020.
Jose Pfeifer, Managing Director at Investcorp’s European Private Equity group, said: “As part of our European growth strategy, we identified Kee Safety as a unique business led by a terrific group of managers. We acquired the business after recognizing its potential in the sizeable, growing and fragmented fall protection market and we have seen it deliver an impressive performance through meticulous execution and successful bolt-on acquisitions. Chris, Damian, Neil and their team have done a great job in positioning Kee Safety for the future, and we wish them the best of luck.”
Chris Milburn, Chairman of Kee Safety, added: “Investcorp has been a true partner to us over the last three and a half years. As a management team, it has been extremely important to share our growth journey with the right partner, capable of supporting us in a period of strong development in North America, the Middle East and Asia. We have valued Investcorp’s constructive approach and benefited from its global mindset throughout our journey together.