Protective Industrial Products partners with Audax Private Equity
CO-FOUNDERS OF PIP GLOBAL
PARTNER WITH AUDAX PRIVATE EQUITY
IN RECAPITALIZATION OF COMPANY
BOSTON - (BUSINESS WIRE) - February 1, 2018 - Audax Private Equity ("Audax") today announced that it has partnered with the Milot and Tao families, co-founders of Protective Industrial Products Global Holdings Inc. ("PIP Global"), to re-capitalize the company, a leading global supplier of hand protection products and other consumable personal protective equipment ("PPE"). Joe Milot will continue as President and CEO of PIP Global and both the Milot and Tao families will retain significant ownership interests in the Company. Terms of the transaction were not disclosed.
Geoffrey S. Rehnert, Co-CEO of Audax Group, said "PIP Global is a recognized leader in the consumable safety products market that has grown significantly during the last three decades. We look forward to supporting Joe Milot, his family, the Tao family and the entire PIP Global team to continue growing the business organically and through acquisitions."
PIP Global, headquartered in Latham, NY, is a leading, globally recognized, industrial safety platform providing an unparalleled product portfolio, the largest and most experienced sales force in the Industry, recognized unsurpassed service, and leading-edge marketing programs. The Company offers one of the broadest suites of PPE, including hand and arm, eye, head, hearing, body, and respiratory protection. PIP's products include such widely recognized brands such as G-Tek®, Bouton® Optical, Safety Works®, Ambi-dex®, Assurance®, Falcon®, Kut-Gard®, and Maximum Safety®. PIP Global partners in certain markets with leading innovators such as ATG®, JSP®, Pacific Helmets®, E-Flare®, and Hellberg®. For more information, visit www.pipglobal.com.
Joe Milot, President & CEO of PIP Global, said "We're excited to partner with Audax as we continue to build the PIP platform and truly become the global go-to supplier to distributors, dealers, and retailers for all their consumable PPE requirements. Audax' resources will help us accelerate our growth as we expand into new geographies, end markets, and product lines."
EC Mergers and Acquisitions acted as exclusive financial advisor and Bond, Schoeneck & King, PLLC served as legal counsel to PIP Global, and the Milot and Tao families. Kirkland & Ellis LLP served as counsel to Audax.
ABOUT PIP GLOBAL
PIP Global is a leading supplier of Hand Protection and Personal Protective Equipment to wholesalers and distributors worldwide. With locations throughout North and South America, Europe and Asia, PIP's mission of "Bringing the Best of the World to You®" is fulfilled everyday by providing best-in-class safety products worldwide. Additional information about PIP Global is available at www.pipglobal.com or by contacting Joe Milot, President & CEO, 518-595-1518.