H.I.G. Capital Acquires Total Safety, Inc.
November 25, 2003 – H.I.G. Capital, a Miami-based private equity firm, announced today that it has acquired Total Safety, Inc. (“Total Safety”). Total Safety is the leading domestic and international provider of safety services and products to the industrial, energy, and environmental markets. Total Safety maintains its headquarters in Houston, Texas and has operations throughout the United States, Europe, Africa, the Middle East, and Asia.
R. Gerald Bennett, President and CEO of Total Safety, commented, “The management team and employees are all very enthusiastic about partnering with H.I.G. We have already formed a productive working relationship and their talents and relationships will be an asset to our team. With H.I.G.’s resources and commitment to the Company, this transaction positions Total Safety to better serve our customers and take advantage of the substantial growth opportunities that lie ahead.”
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. Their long term relationships include leading energy and industrial companies known throughout the world.
“H.I.G. is extremely excited about our investment in Total Safety,” said Brian Schwartz, Managing Director of H.I.G. Capital. “Total Safety’s outstanding management team and compelling business model provide a solid foundation for future growth. Our capital investment will unleash their true potential. Total Safety has demonstrated its exceptional ability to satisfy its customers, and we expect the Company to continue to build on its market-leading position. We are poised to capitalize on our customers’ desires to expand their safety outsourcing commitments.”
Terms of the transaction were not disclosed.
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. has been 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 Opportunity Fund, H.I.G. has also been 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.