MIAMI, FL – (April 7, 2014) Trivest Partners, L.P. (“Trivest”) today announced the sale of Hazmasters, Inc. (“Hazmasters” or the “Company”) to WESCO International, Inc. (NYSE: WCC). Hazmasters, based in Ontario Canada, is an industrial business that supplies employee health and safety products to over 5,000 customers throughout Canada. Products include protective gear, respiratory equipment, fall protection systems and containment and disposal equipment.
Trivest Fund IV acquired Hazmasters in partnership with the Company’s Founder and management in November 2011. In a little more than two years, Hazmasters and Trivest accomplished their goals by opening three new branches and completing two acquisitions which expanded the Company’s geographic reach and service offering. As a result, sales and profits grew substantially during Trivest’s ownership period. The sale of Hazmasters represents the second very strong exit for a Trivest Fund IV portfolio company.
Randy Myers, Hazmasters Founder and Chief Executive Officer stated, “Partnering with Trivest in November 2011 truly helped us to take Hazmasters to the next level. Trivest provided the necessary support to expand our branch network to 14 locations, develop growth strategies, acquire two add-on acquisitions and have a successful exit, yet allowed our management team the autonomy to operate our business.”
Peter “Chip” Vandenberg, Jr., Trivest Partner said, “We owe a debt of gratitude to Randy Myers and the Hazmasters management team for flawlessly executing on the strategy laid out at the onset of our investment.”
Hazmasters follows a long line of successful Trivest investments in Canada. Trivest has completed over a dozen acquisitions in Canada over the past 10 years. Notable other successful exits include ATX Networks, a manufacturer of cable/internet equipment, and Herbal Magic, the largest weight loss franchisor in Canada. Also, Trivest currently has other distribution investments in its portfolio including S.R. Sales (supplier of authorized OEM industrial spare parts), North Star Seafood (largest distributor of fresh and frozen seafood in the State of Florida) and AM Conservation (supplier of energy and water conservation products). For additional information, please visit www.trivest.com.
Hazmasters was advised by Stephens Inc. (financial advisor) and Cassels Brock & Blackwell LLP (legal advisor).
About Trivest Partners:
Trivest Partners is a private investment firm that focuses on partnering with founder/family owned businesses in the United States and Canada. Since its founding in 1981, Trivest has completed more than 200 transactions, totaling over $5.1 billion in value.