It is always exciting to read about the new opportunities dealmakers are undertaking. In one example, Partners Group invested in the safety products sector. This is a market that the firm believes will provide ample M&A opportunities in the near term.
Partners Group has acquired SureWerx, a supplier of technical safety equipment and safety tools to help employee wellbeing, working conditions and productivity, from The Riverside Company. Co-headquartered in Vancouver, British Columbia and Chicago, Ill., the target delivers 18 established safety brands across 27 product categories for end-markets such as infrastructure and utilities, manufacturing, transportation and logistics, and warehousing.
“Technical safety products has been a thematic focus area of ours for over four years and we closely tracked SureWerx during this time and have been impressed by the company’s growth and positioning in the market,” says Derek Lim, managing director, private equity goods and products, Partners Group. “Through our thematic research, we have found there to be an increasing proliferation of safety culture amongst companies and workplaces driven by rising regulation, increasing cost of healthcare and workers compensation claims and product innovation. We believe SureWerx will continue to benefit from these embedded industry tailwinds and continue its strong growth trajectory.”
We talked about ESG concerns a lot in 2022. It is apparent that dealmakers in private equity will continue to demonstrate a focus and commitment to corporate governance to make workers’ lives a better place. Partners Group has found that the increasing focus on safety culture and the need to follow regulations has strengthened the trajectory of the safety market.
“We believe there will be ample M&A opportunities in the near term to continue to augment SureWerx’s product offering and drive its scale,” Lim adds.
What do you think of growth in the workplace safety market? Let me know at [email protected]
–Cole Lipsky
