Investcorp to acquire Kee Safety for $370m
Investcorp, a leading provider and manager of alternative global investment products, has agreed to acquire Kee Safety Ltd., a global supplier of safety solutions and products, from Dunedin LLP and LDC for an enterprise value of £280 million ($370 million).
Established in the UK in 1934 and headquartered in Birmingham, Kee Safety is the leading global provider of fall-protection solutions and products associated with working at heights. The company has a global presence and sells its products in more than 60 countries to a broad range of customers, from multi-national corporations to distributors and installers. It employs 480 people and has established operations in 10 countries, including the US and China.
Investcorp plans to support Kee Safety’s international growth strategy both organically and by considering further add-on acquisitions, expanding the company’s geographic footprint and strengthening its presence in existing markets. Operating in a highly fragmented market, Kee Safety is well positioned to leverage its strong reputation and its scalable business model to benefit from increasing levels of safety regulations around the world.
Yasser Bajsair, Investcorp managing director in Saudi Arabia, said: “Investcorp has built a strong track record of successful investments in Europe. We are excited to start a new success story with Kee Safety...”
Chris Milburn, chairman of Kee Safety, said: “International expansion and an active acquisition strategy have formed key tenets of our growth story over recent years. It was, therefore, extremely important for us to identify the right partner capable of continuing to support us in this period of strong development for the company. We believe that Investcorp’s proven track record, global presence and network will be extremely valuable in this regard. Their experience of working with the management teams of their portfolio companies to help them continue to internationalize makes them a highly complementary partner for Kee Safety and one that will help us realize the full growth potential of the business.”
Kee Safety marks Investcorp’s third investment in the UK in the last 18 months, having previously acquired Nebulas, one of the UK’s leading managed cybersecurity service providers; and Impero, one of the UK’s leading providers of online student safety, classroom and school network management software.