McCue Corporation, a portfolio company of Eureka Equity Partners, has acquired Product Innovations (DBA Banner Stakes). Eureka acquired McCue in May 2017.
Banner Stakes is a provider of portable safety barricades used in the material handling, industrial, healthcare, facilities maintenance, construction, and retail sectors. The company’s products are used to section off work and public areas to increase safety, convey warnings, and reduce liability.
Banner Stakes is headquartered near San Francisco in Dublin, California. Jennifer Thenemann, the general manager of Banner Stakes prior to the acquisition, has joined McCue’s senior management team.
McCue Corporation is a provider of more than 3,000 SKUs of damage prevention products used in interior retail spaces, backrooms, parking lots, and distribution and warehouse facilities in the retail and material handling industries. The company is led by CEO David DiAntonio and is headquartered near Boston in Peabody, Massachusetts.
“I am excited to begin this new partnership with Banner Stakes, whose innovative products will add to McCue’s already strong portfolio of offerings and provide relationships with new distributors,” said Mr. DiAntonio. “With our extensive global sales and marketing capabilities, we expect to continue growing the Banner Stakes business both domestically and internationally while ensuring the highest level of support for our customers’ needs.”
“The Banner Stakes acquisition is another step in the development of McCue as a premier provider of safety products across a broad range of categories,” said Jonathan Chou, a partner with Eureka. “We have the right management team, infrastructure, and capabilities at McCue to continue making strategic acquisitions, in addition to the company’s organic growth initiatives, that will yield immediate benefits and accelerate the growth of the platform.”
Philadelphia-based Eureka Equity Partners makes control and non-control investments in companies with up to $100 million in revenue. Initial equity investments range from $10 million to $25 million but larger investments can be made with co-investment from the firm’s limited partners. Sectors of interest include business services, healthcare services, consumer, and specialty manufacturing.
M&T Bank provided debt financing to support this add-on acquisition.
© 2020 Private Equity Professional | March 19, 2020