SureWerx, a portfolio company of Penfund, has acquired KP Industries, a supplier of professional tools, equipment and safety products. Penfund acquired SureWerx, then known as JET Equipment & Tools, in November 2012.
KP Industries is a designer and manufacturer of knee pad protection products sold under the KneePro brand. The company’s products are used in welding, construction, military, SWAT, and police applications. KP Industries was founded in 1986 by Chuck Knox and is based near Traverse City in Old Mission, MI (www.kpindustries.com).
“KP Industries is the original designer and manufacturer of the now famous KneePro series of knee pads, sold extensively in the US and around the globe since 1990,” said Bill Jeffery, Senior Vice President of Corporate & Brand Development at SureWerx. “The KneePro Ultra Flex III knee pad is regarded as one of the best knee pads on the market.”
SureWerx is a supplier of professional tool, equipment and safety products that are sold to the industrial, construction, safety, and automotive aftermarket sectors. Brands include JET, Strongarm, ITC, STARTECH, Pioneer, Ranpro, PeakWorks, Sellstrom, and American Forge & Foundry. SureWerx is headquartered in Vancouver, BC (www.surewerx.ca).
“The acquisition of KP Industries is perfectly aligned with our corporate strategy to complement our existing safety programs by introducing a complete professional safety portfolio into the Canadian market and to expand our portfolio and reach into the US safety market,” added Mr. Jeffery.
Penfund specializes in providing junior capital to US and Canadian middle market companies. The firm provides second lien, high yield and mezzanine debt, control and minority equity, as well as bridge facilities, standby lines, underwritten facilities and financial guarantees. Penfund is currently investing out of Penfund Capital Fund IV which has $460 million of committed capital. The firm was founded in 1979 and is based in Toronto (www.penfund.com).
© 2016 Private Equity Professional • 6-21-16