CHICAGO – Nov. 6, 2015
Baird Capital, the direct private investment arm of Robert W. Baird & Co. (Baird), today announced the sale of Justrite Manufacturing Company, L.L.C (“Justrite”), a leading safety products company, to Audax Group.
Baird Capital’s investment and partnership enabled Justrite to invest in a growth strategy which increased revenues two times and EBITDA three times over the past four years. Baird Capital will continue to be a small, minority investor in Justrite.
Justrite is a leading, globally recognized industrial safety platform providing unparalleled technical expertise, unmatched service and differentiated products. Founded in 1906, the Company offers one of the broadest suites of safety products for regulated and critical safety environments, including safety cabinets, safety cans, environmental and spill containment offerings, and outdoor safety storage buildings and lockers. Justrite’s products help ensure customers’ compliance with regulatory standards, including the storage, transfer, use and disposal of flammable, hazardous and environmentally harmful materials.
Mark McElhinny, President and CEO of Justrite, commented, “Baird Capital’s partnership has enhanced Justrite’s position as a leading global platform for industrial/workplace safety products. Together, we have strengthened the Justrite team and our position with customers, integrated two strategic acquisitions, expanded internationally and invested in new products, all while maintaining our commitment to customers and quality that has been synonymous with the Justrite brand for over 100 years.”
“Justrite has become one of the premier safety products companies in the world by developing a highly skilled workforce, building strong distribution partnerships, and providing a continuous flow of product innovations that the industry demands,” said Andrew Brickman of Baird Capital. “We have enjoyed our partnership with the Justrite team and are excited to continue to partner with Audax Group during this next phase of growth.”
Justrite is a leading source of storage, handling and security products including fire prevention safety equipment for hazardous materials, environmental protection spill containment devices, and specialized storage products. Since 1906 customers have looked to Justrite for innovative solutions to help protect workers, reduce fire risks, and improve productivity. Rigorously tested for unsurpassed quality and compliance to applicable codes and regulations, Justrite safety cabinets, safety cans, specialty containers and storage products and drum handling equipment are available through authorized distributors worldwide.
Capital Baird Capital makes venture capital, growth equity and private equity investments in strategically targeted sectors around the world. Having invested in more than 290 companies over its history, Baird Capital partners with entrepreneurs and, leveraging its executive networks, strives to build exceptional companies. Baird Capital provides operational support to its portfolio companies through teams on the ground in Asia, a proactive portfolio operations team and a deep network of relationships which together strive to deliver enhanced shareholder value. Baird Capital is the direct private investment arm of Robert W. Baird & Co. For more information, please visit BairdCapital.com.
For additional information, contact:
Angela Pittman Taylor
Baird Public Relations