National Safety Apparel, a portfolio company of Blue Point Capital Partners since May 2024, has acquired Tri-Star Glove.
National Safety Apparel (NSA) is a provider of flame-resistant clothing (FRC), electrical personal protective equipment (PPE) and thermal and industrial PPE, workwear, and uniforms.
The majority of NSA’s branded products – including DRIFIRE, Enespro, and Wild Things – are made in the United States. The company’s DRIFIRE products include hi-vis, arc flash and flash fire industrial workwear and flame-resistant base layers, combat uniforms, and flight suits; the Wild Things brand includes cold weather military clothing; and its Enespro products include flame-resistant clothing, electrical safety PPE, and rubber voltage gloves. NSA was founded in 1935 and is headquartered in Cleveland, Ohio.
Tri-Star Glove manufactures personal protective apparel (PPA) – primarily serving the automotive, foundry, fabrication and glass sectors – which protect users from cuts and punctures, weld splatter, molten metal splash, and arc flash. Tri-Star Glove was founded in 2001 by President Rod Townsend and Vice President Eric Moll and is headquartered 100 miles southwest of Indianapolis in Plainville, Indiana.
Tri-Star’s products include cut-resistant gloves made from Twaron (a synthetic fiber similar to Kevlar), thermal protective gloves designed for high-heat environments; low lint gloves that are ideal for use in clean rooms and paint departments; flame-resistant jackets, barn coats, aprons and cape sleeves designed for industrial applications including welding and molten metal splash protection; face masks and neck gaiters designed for thermal protection; and high-vis workwear, cold weather gear, and arc flash protection apparel.
“Tri-Star has developed a reputation for manufacturing outstanding personal protective apparel that spans a variety of project types and serves a diverse group of customers,” said NSA CEO Chuck Grossman. “Through this partnership, we will continue providing premium PPE products to our customers, leveraging our combined experience and industry knowledge.”
“NSA is a market leader and acquirer of choice in the safety solutions space,” said Mr. Townsend. “Eric and I are proud to be joining NSA’s portfolio of companies with Blue Point’s support, as we sincerely feel this team will honor our combined 93 years of industry experience with a commitment to advancing Tri-Star’s business and its employees.”
The buy of Tri-Star is NSA’s 14th add-on acquisition since 2012 and the first investment since partnering with Blue Point less than two months ago.
“NSA’s rich history of M&A expansion and integration, combined with Blue Point’s manufacturing and safety sector investing experience, make this an exciting acquisition in the early stages of our partnership,” said Jonathan Pressnell, a partner at Blue Point. “We are here to support the management team with value-added operational resources and help maintain this momentum as we continue to collaborate and evaluate organic and M&A opportunities.”
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 NSA are actively seeking complementary partnerships with like-minded founders and owners of safety products businesses.
© 2024 Private Equity Professional | July 17, 2024
