Andrew Brickman, BCP Partner, said they have actively followed a number of safety products companies for the past few years and believe Justrite is well positioned in the sector.
"We believe Justrite is a strong platform business with a great team and well-known brands that can capitalize on this demand and continue the consolidation in the sector. We are excited to partner with Justrite in driving the Company’s next stage of growth," Brickman added.
According to Baird Capital, financing for the transaction is being provided by US Bank, Madison Capital and Thrivent Financial for Lutherans.
BCP is joined in the investment by JZ Capital Partners and management. The terms of the deal were not disclosed.
Brickman will join Justrite’s Board of Directors, along with Dave Schroeder, a member of BCP’s operating network in the safety products sector.
Based in Des Plaines, Illinois, Justrite’s range of products includes safety cabinets, safety cans, spill containment systems, and related accessories.
Established in Chicago in 1906, Justrite’s product offering includes items specifically designed to help workers store, transfer, use and dispose of hazardous materials in a safe and convenient manner. These products can be categorized into fire prevention safety products and environmental protection/hazmat products.
