Blue Point Capital Partners has acquired Brimar Industries, a provider of industrial safety and visual communication supplies.
Brimar is a manufacturer and distributor of stock and custom safety signs, labels, pipe markers, equipment identification products, parking and traffic signs, and mailing tabs. The company sells its products through the e-commerce sites Safetysign.com, Pipemarker.com, and SaferSeals.com. Brimar was founded in 1988 by CEO Brian Costello and is headquartered near New York City in Garfield, New Jersey.
“It was important for us to align with a partner who truly understands the safety products industry and our e-commerce strategy,” said Mr. Costello. “Blue Point’s investment experience in safety-oriented products and services and digitally native businesses aligned with our vision for the future of Brimar.”
Two earlier Blue Point investments in the safety sector include Area Wide Protective, an Ohio-based provider of temporary traffic management services, equipment and vehicles, that was sold to the Riverside Company in 2015; and Fire & Life Safety America (FLSA), a Virginia-based provider of fire and life safety system inspection, maintenance, repair and installation services. FLSA is a current portfolio company of Blue Point.
“Over its more than 30-year history, the Brimar team has established the company as a safety category leader with a digital-first mindset,” said John LeMay, a partner at Blue Point. “Blue Point is excited to help build on Brimar’s strong market position by leveraging our data and digital, M&A, supply chain and human capital capabilities.”
Blue Point invests in companies that are active in the industrial, business services, consumer, and value-added distribution sectors and have from $30 million to $300 million in revenue and EBITDA greater than $7 million. The firm has offices in Cleveland, Charlotte, Seattle, and Shanghai.
Blue Point and Brimar are seeking add-on acquisitions within the safety-oriented products and services sector to build its online presence, expand its products, and increase its distribution channels.
“Brimar’s strong management team has established an impressive operating platform capable of providing the rapid and accurate service customers need,” said Rick Soukup, a principal at Blue Point. “We expect their existing growth strategies with the addition of Blue Point’s data and digital toolkit will be a powerful combination.”
The buy of Brimar was made through Blue Point’s fourth fund, Blue Point Capital Partners IV LP, which closed at its hard cap of $700 million in January 2018.
© 2021 Private Equity Professional | December 3, 2021
