Charlesbank Buys Galls from CI Capital
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Charlesbank Buys Galls from CI Capital

Charlesbank Capital Partners has acquired Galls, a distributor of uniforms and equipment used in the public safety market, from CI Capital Partners. Galls was acquired by CI Capital Partners in September 2011.

Galls is the largest distributor of uniforms and equipment to public safety personnel including police, fire, EMS, private security, corrections, federal/military, and postal workers.  Galls products range from customized uniforms, sunglasses, boots and shoes to body armor, handcuffs, medical kits and light bars. Galls sells its products through a print catalog and online through its website. The company also has 50 sales representatives and 80 locations across the US. Galls, with more than 1,000 employees, was founded in 1967 and is headquartered in Lexington, KY (www.galls.com).

“With CI Capital’s support, Galls completed 20 add-on acquisitions, expanding into new markets and customer segments and transforming Galls into a national business,” said Mike Wessner, Chief Executive Officer of Galls. “We are grateful for CI Capital’s partnership and believe we will be able to build on this momentum with Charlesbank.”

CI Capital Partners invests from $25 million to $100 million in middle market companies in the following sectors: business services, consumer services, distribution, government services and defense, and light manufacturing. Since its founding in 1993, CI Capital and its portfolio companies have made more than 260 acquisitions representing over $9 billion in enterprise value. The firm is based in New York (www.cicapllc.com).

“We have a long history of executing our buy and build strategy in the distribution industry, and Galls is the latest example of this,” said Timothy Hall, Managing Director at CI Capital. “We thank the management team for their hard work throughout our partnership and wish Galls the very best moving forward.”

“Due to the hard work of the management team and Galls’ dedicated employees, Galls has established itself as a critical partner to the public safety, private security, postal and public transportation industries,” said Sam Bartlett, Charlesbank Managing Director. “We are thrilled for the opportunity to invest in Galls and believe there is tremendous potential for the company to continue its growth trajectory. We look forward to supporting the company in its next phase.”

Charlesbank invests in management-led buyouts and growth capital financings in companies with enterprise values of $150 million to $1.5 billion. In October 2017, the firm held a final closing of Charlesbank Equity Fund IX at its hard cap of $2.75 billion. Charlesbank will invest between $50 million and $250 million in each Fund IX portfolio company and will also make opportunistic credit investments. Sectors of interest include consumer, industrial, industrial services and distribution, TMT and business services. The firm has offices in Boston and New York (www.charlesbank.com).

Moelis & Company was the financial advisor to Galls on this transaction and Houlihan Lokey advised Charlesbank.

© 2018 Private Equity Professional | February 2, 2018

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