Bridgepoint, an international private equity firm, today announced that it has acquired Safety Technology Holdings (“STH”), the world’s leading supplier in the design and manufacture of safety test equipment, specialty fiber, custom engineered stress & strain solutions and software modelling, from Golden Gate Capital. Terms of the transaction were not disclosed.
Christopher O'Connor, President and CEO, said: "We are proud of the strong foundation we built through our partnership with Golden Gate Capital and are delighted to welcome Bridgepoint as shareholders, who have a track record of building and providing long-term support to the businesses with whom they work. We are already a global business but will undoubtedly benefit from the Bridgepoint network, especially in Europe and China, to drive future growth and continue to deliver world leading safety solutions for our customers."
Andrew Sweet, Partner at Bridgepoint commented: "STH is a pioneer in saving lives. Its technology is uniquely positioned to address the opportunities presented by disruptive developments such as driverless and electric cars and increased safety regulatory requirements. We look forward to working with the company to pursue its many avenues of growth."
Rajeev Amara, Managing Director at Golden Gate Capital commented: "We have enjoyed an amazing partnership with Chris O'Connor. Under Chris' leadership, the company has successfully executed on its growth strategy, which has resulted in the doubling of its size in just four years, by expanding into adjacent markets across a variety of product lines. We are confident the company has a bright future ahead."
The investment in STH is made by Bridgepoint Europe V, a €4 billion middle market buyout fund. Houlihan Lokey served as financial advisor to Bridgepoint and Moelis & Company served as financial advisor to Golden Gate Capital.