Chaska, MN: BlueWater Manufacturing, Inc., a manufacturer of pre-engineered, modular guardrail systems, announced that it has been acquired by Safety Products Group. Under its lead brand, SafetyRail 2000, BlueWater has provided its industrial and commercial customers easy-to-install, non-penetrating roof top safety solutions since 2001.
The acquisition of BlueWater complements and expands Safety Products Group’s strategy in the fast-growing workplace safety space. In September 2012, Safety Products Group acquired Houston-based FabEnCo, the leader in industrial safety gates for fall protection applications as well as access control, pedestrian traffic control, security and machine guarding. The addition of BlueWater will allow the company to better serve its customers with a broad range of complementary safety products and solutions. Both companies manufacture highly-engineered safety solutions allowing building owners and end-users to increase safety at height while saving the time and expense of buying component pieces from various suppliers or fabricating their own product.
Safety Products Group was formed in 2012 to acquire FabEnCo. Gemini Investors was the lead institutional investor, joined by TMW Enterprises and Akoya Capital Partners. According to Jeffrey Newton, Managing Director at Gemini Investors, “The back-to-back acquisitions of FabEnCo and BlueWater create a formidable platform in the workplace safety space. The addition of BlueWater brings critical mass, expands our customer base and product line to better serve the growing demand for collective safety products.”
Philippe Suhas, CEO of Safety Products Group, noted, “We are thrilled to add BlueWater’s capabilities. We are creating a leader in collective safety products by combining two of the best known and highly-regarded brands in the safety sector, along with their complementary teams and capabilities. BlueWater’s principals have introduced a number of new products, several of which are patented. We expect that culture of innovation to continue."
Greg Kenton, Founder and President of BlueWater, who will serve on the Board of Directors of Safety Products Group, said, “The backing we have received from our new private equity partners ensures that BlueWater is positioned not only to meet the needs of our clients today, but into the future as well. All of us at BlueWater are excited to join forces with FabEnCo and enhance our combined opportunity."