H.I.G. Capital News
1001 Brickell Bay Drive
Miami, FL 33131
H.I.G. Capital Completes Sale of Total Safety U.S., Inc.
MIAMI - December 8, 2006 - H.I.G. Capital LLC, a leading private equity firm based in Miami, Florida, announced today that it has completed the sale of Total Safety U.S., Inc. ("Total Safety" or the "Company") to DLJ Merchant Banking Partners, Inc., the private equity investment affiliate of Credit Suisse. Total Safety is the leading outsourced provider of mission-critical safety services and equipment to the refining, petrochemical, upstream and general industrial markets.
Headquartered in Houston, Texas, Total Safety serves a diverse global customer base either on-site or through one of its 27 regional centers. The Company combines a comprehensive suite of safety products for sale or rent with a range of value added services to offer facilities a single outsourced solution for their safety needs. The Company’s primary products include respiratory protection equipment, gas detection and monitoring devices, fire suppression equipment and general training services. Within each of the product lines, the Company provides a variety of services including repair, inspection and preventative maintenance that improve safety compliance levels. The Company, with approximately $110 million in annual sales, has recently accelerated its growth profile through geographic expansion and strategic acquisitions. Terms of the transaction were not disclosed.
Total Safety U.S., Inc. was formed in December of 1994 to serve the safety needs of the oil and gas industry worldwide. Over several years, the Company transformed itself through internal growth and acquisitions to become the industry leader in a comprehensive array of safety services in a variety of end markets. H.I.G. Capital acquired Total Safety in 2003, then acquired Well Safe, Inc. in April 2004, and the Safety & Controls division of Sola Communications in June 2006. Under H.I.G.’s ownership, the Company has expanded the breadth of its product and service offerings and its geographic reach with the goal of transforming Total Safety into the premier global provider of integrated safety strategies and solutions for hazardous environments.
"We had a great experience with H.I.G. They provided energetic and effective strategic support, helping us almost triple our size in three years through acquisitions and organic growth They are the ideal private equity partner for a management team," said David Fanta, CEO of Total Safety.
About H.I.G. Capital
H.I.G. Capital LLC ("H.I.G.") is a leading private equity and venture capital investment firm with more than $3 billion of equity capital under management. Based in Miami, and with offices in Atlanta, Boston, and San Francisco, H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well managed manufacturing or service businesses. H.I.G. also has extensive experience with financial restructurings and operational turnarounds. Since its founding, H.I.G. has completed in excess of 70 transactions. The firm currently manages a portfolio of more than 40 companies with combined revenues in excess of $5 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.