Safety solutions firm Kee Safety has been boosted by a significant investment from private equity firm LDC.
The will help support the roll-out of new products, further expansion of international markets and future acquisitions at the Meriden-based firm.
Key supplies collective and personal fall protection designed to separate people, working at height or on the ground, from hazards. The business operates through a number of internationally recognised brands including KeeGuard, Kee Line, Kee Walk, Kee Access and Kee Klamp.
The value of the investment is undisclosed, but is thought to be a multi-million-pound deal.
Kee Safety employs approximately 180 staff and exports to over 35 countries.
In addition to Meriden, the business also operates from Reading and Cradley Heath, and has overseas operations in the USA, Canada, Germany and France, together with a growing presence in the UAE, Poland and China.
Chris Milburn, chief executive of Kee Safety said: “With the number of recent product launches and a rapidly expanding overseas presence, the investment will support Kee Safety in realising its future growth ambitions.”
LDC managing director Martin Draper said: “This represents our third investment in 2011, following on from our successful exit and reinvestment into Integrated Dental Holdings and the acquisition of Hi Level Platforms by portfolio company Kimberly Access.
"This level of investment momentum confirms our long term commitment to supporting regionally based mid market businesses with ambitious growth plans.”
The transaction was completed with support from a number of Midlands-based advisers including Eversheds who acted as legal adviser to LDC and Browne Jacobson who advised Kee Safety’s management team. Grant Thornton provided financial due diligence and PwC provided commercial due diligence on the deal.
Debt funding was provided by Lloyds Bank Corporate Markets Acquisition Finance, with legal advice from Wragge & Co.