Riverside Unloads Safety Equity Business SureWerx to Private Markets Firm Partners Group
Chicago- and Vancouver-based safety products manufacturer SureWerx has been sold to global private markets firm Partners Group by The Riverside Company.
Financial terms of the deal were not disclosed, although Bloomberg reported the deal values SureWerx at about $870 million, including debt.
Riverside bought the company from Penfund in 2018 for an undisclosed amount and backed management to make acquisitions that have included Oberon Co. and Footwear Specialties International.
The company is a global supplier of personal protective equipment, safety gear and tool solutions, and markets its safety products under multiple brands including Jackson Safety.
SureWerx said the deal is an opportunity for Partners Group to “further accelerate” SureWerx’s growth by adding new products and service to an already established network of distributors and end-users.
“We are extremely excited to team up with Partners Group,” said Chris Baby, CEO of SureWerx. “With the support of Riverside, our team has worked diligently over the past four years to build an outstanding platform for growth, and we are grateful for the unwavering support they have given us.”
Partners Group is heavily focused on investments in private equity, private real estate, private debt and private infrastructure.