H.I.G. Capital Acquires Well Safe
April 20, 2004 – H.I.G. Capital announced today that it has acquired Well Safe, Inc. (“WSI”) from W-H Industrials, Inc. (NYSE: WHQ). WSI will be merged with Total Safety U.S., Inc. (“Total Safety”), a portfolio company of H.I.G. Capital. Headquartered in Houston, Texas, WSI is a leading provider of safety services and products to the Gulf Coast region, including Texas, Louisiana, and Alabama. Terms were not disclosed.
R. Gerald Bennett, President and CEO of Total Safety, commented, “WSI is the perfect complement to Total Safety’s domestic industrial business. WSI’s operational excellence, strong management, and great brand and reputation enhance the combined company’s ability to offer high quality products and services to its customers.”
WSI provides industrial and oil and gas companies with outsourced safety services, including safety breathing air, safety rental equipment, fit testing, training, and repair and inspection of all safety equipment and instruments.
Brian Schwartz, Managing Director of H.I.G. Capital, said, “The addition of Well Safe is an ideal opportunity for Total Safety because it takes the Company to the next level. The combined entity is well-positioned to be the leading market provider by taking advantage of the customers’ increasing demand for outsourced safety services.”
Total Safety provides outsourced safety services to some of the world’s largest industrial, energy, and environmental companies through product offerings such as gas detection and respiratory equipment services, fire protection and engineering systems design, safety consulting and training, and safety equipment rental and sales. Its long term relationships include leading energy and industrial companies known throughout the world.
About H.I.G. Capital
H.I.G. Capital is a leading private equity and venture capital investment firm with more than $1.5 billion of equity capital under management. Based in Miami, Florida, and with offices in Atlanta, Boston, and San Francisco, H.I.G. is one of the most active private equity investors in small and medium-sized companies. H.I.G. invests in management-led buyouts and recapitalizations of well-established and well-managed manufacturing or service businesses with attractive growth potential, and in promising early stage technology companies. Through its Bayside Opportunity Fund, H.I.G. is also an active investor in restructurings and turnaround situations. Since its founding, H.I.G. has made more than fifty highly successful investments, acquiring companies with combined revenues in excess of $5 billion. For more information,
visit H.I.G. Capital’s web site at http:/www.higcapital.com.