Solis Capital Partners has sold ML Kishigo Manufacturing Company, a maker of high-visibility safety garments, to Bunzl PLC.
ML Kishigo is a designer and manufacturer of industrial safety wear, including high-visibility and flame resistant vests, shirts, jackets, pants and rainwear. The company’s products are worn by individuals working in hazardous environments, including construction workers, airport personnel, city and statewide municipality workers and operators of large equipment. ML Kishigo was founded in 1971 and is based in Santa Ana, CA (www.mlkishigo.com).
Solis acquired the company in January 2015 in partnership with the company’s CEO Greg Hayward. “We are extremely proud of Greg and his team,” said Daniel Lubeck, Managing Director of Solis. “It was an ideal partnering investment in every respect. The company flourished, and the team is talented, focused and excited about the runway ahead.”
Solis Capital Partners invests from $2 million to $25 million in companies with revenues between $15 million and $100 million that operate in the business services, niche manufacturing, and software sectors. Target companies are typically headquartered in the Western United States. Solis is actively investing through Solis Capital Partners II which closed in May 2013. The firm has offices in Newport Beach and San Diego (www.soliscapital.com).
“Solis provided critical resources and was a tremendous support in accelerating our growth and evolution,” said Mr. Hayward. “We are thankful for our partnership with Solis, and also very excited about ML Kishigo’s next phase of evolution with Bunzl.”
Bunzl is a multinational distribution and outsourcing company headquartered in London. The company is primarily a distributor of non-food consumable products including food packaging, cleaning and hygiene supplies, personal protective equipment and carrier bags. The company’s customers include contract cleaners, retailers, catering firms and food processors. Bunzl has operations in 23 countries and almost half of its business is conducted in North America, with additional operations in Europe as well as a smaller presence in Australia, Asia and Brazil (www.bunzl.com).
Los Angeles-based Intrepid Investment Bankers (www.intrepidib.com) was the financial advisor to ML Kishigo on the sale.
© 2017 Private Equity Professional | May 4, 2017
