Kee Safety manufactures products that protect workers from safety hazards, including devices ensuring the safety of workers on high platforms and roofs. It also produces fall protection solutions and safety barrier systems.
It was taken over by private equity firm Dunedin Enterprise Investment Trust in a management buyout in 2013. Since then Kee Safety has made 12 acquisitions and expanded further into Europe, North America, Asia and the Middle East. Its revenues have more than have doubled to the current level of £78m.
The Cradley Heath company employs 480 workers and sells its products across more than 60 countries to a broad range of customers, from multi-national corporations to distributors and installers.
Investcorp proposes to support Kee Safety’s international growth strategy by strengthening its presence in existing markets as well as considering further add-on acquisitions.
The investment company said that a highly fragmented market and increasing levels of safety regulation and enforcement around the world put Kee Safety in a primary position as demand for its products is expected to increase.
Kee Safety has a strong reputation for the reliability of its products and its scalable business model will enable it to expand at above-market growth rates.
The £280m sale is still subject to completion but will provide a full exit for Dunedin’s Buyout Fund III, which will make a return of three times the money invested and an IRR of 35 per cent.
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