Conney To Be Positioned as Growth Platform
NEW YORK, and MADISON, Wis., Oct. 2 /PRNewswire/ -- Caxton-Iseman Capital LLC, a New-York-based private investment firm, announced today that it has acquired Conney Safety Products, LLC, a full service national marketer of personal protective equipment, safety equipment, first aid supplies, and various other safety products, from K+K America Corporation. The transaction has a value of approximately $48 million.
Founded in 1946, Madison, Wisconsin-based Conney is recognized nation-wide as a leading direct marketer of a broad range of safety equipment, providing its familiar catalog to businesses ranging from the smallest stores to the Fortune 500. Conney has built its reputation by providing a wide range of high quality, well-recognized brands, fast delivery, and a high level of customer service characterized by hands-on expertise to assist companies in reaching their safety goals. Conney's catalog is complemented by an internal and field-based sales force.
"Conney has distinguished itself in its product niche by its commitment to quality and to its customers," said Steven M. Lefkowitz, Managing Director at Caxton-Iseman Capital. "We are delighted to make this investment in an excellent platform with a proven track record, and to begin our partnership with Conney employees as we pursue a strategy to bring further growth to a highly-regarded business," said Mr. Lefkowitz.
"The company's strong track record positions it to leverage its excellence by expanding into new markets, offering new products, and reaching out to new customers," added Thomas Ritchie, Vice President at Caxton-Iseman Capital. "The industrial products distribution space remains highly fragmented, and we believe that our support will enable Conney to be an active participant in current and future consolidation through add-on acquisitions."
GMAC Commercial Finance and BlackRock Kelso Capital Corporation
|SOURCE Caxton-Iseman Capital LLC|
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