Justrite Manufacturing Company, a portfolio company of Baird Capital, has acquired U.S. Chemical Storage, a manufacture and customizer of hazardous material outdoor storage buildings.
Justrite, acquired by Baird in July 2011, is a designer and manufacturer of safety products for the handling and storage of flammable and hazardous liquids. Justrite’s range of products includes safety cabinets, safety cans, spill containment systems, and related accessories, sold to end users worldwide through a network of more than 1,700 North American and international distributors. Justrite was founded in 1906 and is based near Chicago in Des Plaines, IL (www.justritemfg.com).
U.S. Chemical Storage was founded in 1983 and is based in Boone, NC (www.uschemicalstorage.com). U.S. Chemical Storage’s products will be combined with Justrite’s current offerings, resulting in an expanded storage solution product line. “Through the acquisition of U.S. Chemical Storage, we are now able to provide a wider selection of innovative storage products,” said Justrite CEO Mark McElhinny.
Baird Capital, the direct private investment arm of Robert W. Baird & Co., invests in lower middle-market companies in the manufactured products, healthcare and business services sectors. The firm invests from $15 million to $35 million in companies with enterprise values of $25 million to $125 million and EBITDAs greater than $5 million. Baird Capital was founded in 1989 and is based in Chicago (www.bairdcapital.com).
“The acquisition of U.S. Chemical Storage further solidifies Justrite as a leader in the safety storage sector,” said Andrew Brickman, Partner in Baird Capital’s U.S. Private Equity group. “Given the continued focus on creating safe and efficient workplaces both domestically and abroad, we believe Justrite answers a critical market demand.”
© 2013 PEPD • Private Equity’s Leading News Magazine • 9-16-13
