Point Blank Enterprises, a portfolio company of JLL Partners, has acquired The Protective Group, a maker of armor used in military applications.
The Protective Group (TPG) develops, designs and produces lightweight composite armor that is used to protect soldiers, aircraft (mainly helicopters) and vehicles. The company’s products have been deployed by the US Army, US Special Operation Forces, US Marine Corps, US Navy, and US Air Force. TPG was founded in 1960 and is based in Miami Lakes, FL with an additional facility in outside of Huntsville in Madison, AL (www.protectivegroup.com).
“The acquisition of TPG strengthens our product and technology portfolio in personnel body armor protection, while adding new capabilities in the areas of engineering and systems integration for both aircraft and vehicular armor,” said Daniel Gaston, Chief Executive Officer of Point Blank. “Our businesses have complementary assets and sell to many of the same branches of the US Military.”
Point Blank, acquired by JLL Partners in June 2015, is the largest provider of soft body armor to the US military and US law enforcement. Point Blank’s primary products are tactical vests, but the company also manufactures concealable vests and hard armor plates. Other products include third-party helmets and tactical shields. The company was founded in 1973 and is headquartered in Pompano Beach, FL with an additional production facility in Santo Domingo, DR (www.pointblankenterprises.com).
JLL Partners invests in companies across a range of manufacturing and service industries. Sectors of specific interest include healthcare, building products, financial services, aerospace, and business services. Since its founding in 1988, the firm has invested approximately $4.4 billion across six funds. JLL Partners is based in New York (www.jllpartners.com).
The seller of TPG was Exxel Group, a Buenos Aires-based private equity firm founded in 1991 by Juan Navarro.
Middle-market investment bank SSG Capital Advisors was the exclusive financial advisor to TPG. SSG has offices in New York and Philadelphia (www.ssgca.com). Paul Keenan of Greenberg Traurig (www.gtlaw.com) provided legal counsel to TPG.
© 2015 PEPD • Private Equity’s Leading News Magazine • 11-13-15