Advising on the sale of £100m revenue Kee Safety Group
We have advised Investcorp, LDC and the management sellers on their exit from Kee Safety Group Ltd, to Intermediate Capital Group.
UK-based Kee Safety was established in 1934 and is the leading global provider of fall protection and safe access solutions and products associated with working at height. The company has a global presence and sells its products across more than 60 countries worldwide to a broad range of customers, from multinational corporations to distributors and installers.
Investcorp acquired Kee Safety in 2017 and has since helped it grow into international markets whilst also expanding its market-leading product offering. Kee Safety accelerated its growth trajectory, surpassing £100m ($138m) in sales and growing EBITDA at a double-digit rate. The company has also completed 15 acquisitions since 2017, expanding its geographic footprint in Europe, North America, Asia and the Middle East.
LDC first backed Kee Safety in 2011 and has had a significant impact on their growth through a targeted buy-and-build strategy. Since the start of their partnership, Kee Safety’s revenue has increased by more than 350%, they have acquired 27 complementary businesses and LDC has helped them to increase headcount to 780 people across 10 countries, an increase of more than 400% over the same period.
Corporate partner and head of our London office, Paul Hayward, led the deal for Gateley Legal. He was supported by corporate partner Andrew Cowan, associate Zum Mohammed and solicitors Hannah Hogarth and Jack Elms. Gateley Legal’s London banking team acted for Intermediate Capital Group on the funding aspects of the transaction.
Paul Hayward commented: “We were really pleased to advise Investcorp, LDC and the management sellers on this significant transaction. This deal marks the third transaction Gateley Legal has supported with having acted for Dunedin on their investment in and their subsequent exit to Investcorp and now this onwards sale by Investcorp. Investcorp and LDC’s backing of Kee Safety has been invaluable to the company’s ongoing success and has provided the business with the tools, resources and expertise to take the company to new heights.”
Chris Milburn, chairman of Kee Safety said: “The legal advice provided by Gateley Legal has been exceptional. They have been instrumental in ensuring that this transaction ran smoothly and successfully, and I’d like to thank the whole team for their hard work and support.”
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