CLEVELAND — July 10, 2024 — Blue Point Capital Partners and its portfolio company National Safety Apparel (NSA) are proud to announce its acquisition of Tri-Star Glove (TSG), a manufacturer of personal protective apparel, primarily serving the automotive, foundry, fabrication and glass end-markets. TSG is NSA’s 14th acquisition since 2012 and the first investment since partnering with Blue Point less than two months ago.
Indiana-based Tri-Star Glove, founded in 2000 by industry veterans Rod Townsend and Eric Moll, provides consistent, high-quality and sustainably designed products. With comprehensive safety apparel expertise, TSG works with end-users to identify hazards in the workplace and engineer custom solutions to specific threats, strategically using thoughtful design and materials to enhance safety.
“Tri-Star has developed a reputation for manufacturing outstanding personal protective apparel that spans a variety of project types and serves a diverse group of customers,” said NSA CEO Chuck Grossman. “Through this partnership, we will continue providing premium PPE products to our customers, leveraging our combined experience and industry knowledge.”
“NSA is a market leader and acquirer of choice in the safety solutions space,” shared Tri-Star Glove President Rod Townsend. “Eric and I are proud to be joining NSA’s portfolio of companies with Blue Point’s support, as we sincerely feel this team will honor our combined 93 years of industry experience with a commitment to advancing Tri-Star’s business and its employees.”
TSG has expanded from solely manufacturing high-performance gloves for the domestic automotive space into a more diverse customer base, manufacturing personal protective apparel for the industrial safety markets, including welding, glass and molten metals. The hand protection market boasts the highest year-over-year growth compared to other adjacent safety segments, making this an ideal fit for NSA’s expansion.
“NSA’s rich history of M&A expansion and integration, combined with Blue Point’s manufacturing and safety sector investing experience, make this an exciting acquisition in the early stages of our partnership,” said Blue Point Partner Jonathan Pressnell. “We are here to support the management team with value-added operational resources and help maintain this momentum as we continue to collaborate and evaluate organic and M&A opportunities.”
NSA is actively seeking additional partnerships with like-minded founders and owners of PPE manufacturing businesses. Business owners interested in learning more may contact Blue Point Managing Director, Business Development Megan Kneipp at mkneipp@bluepointcapital.com.
Tri-Star Glove (TSG) manufactures inherent flame-resistant (IFR) high-performance custom safety apparel and gloves. Established in 2000, TSG customizes high-performance safety apparel to meet industry needs by listening to end-users facing a wide range of daily threats such as cuts and punctures, weld splatter, molten metal splash and arc flash.
National Safety Apparel (NSA), established in 1935, is a market leader in flame-resistant clothing (FRC), electrical PPE and products, thermal & industrial PPE, workwear and uniforms. The majority of NSA’s products (DRIFIRE®, Enespro®, and Wild Things® and others) are made in the USA, reflecting a commitment to quality and flexibility that distribution partners and end users have trusted for decades.
Blue Point Capital Partners is a private equity firm managing over $1.8 billion in committed capital. With resources in Cleveland, Charlotte and Seattle, Blue Point’s geographical footprint allows it to establish relationships with local and regional entrepreneurs and advisors while providing the perspectives and resources of a global organization. Blue Point has over a two-decade history of partnering with lower middle-market businesses to build processes and capabilities to achieve growth. Blue Point’s portfolio is supported by its unique capabilities — which include an integrative team focused on innovative global supply chain, data and digital and human capital strategies — as well as its extensive experience, network of industry resources and focused M&A efforts. Blue Point typically invests in businesses that generate between $30 million and $300 million in revenue.
Posted: July 10, 2024
Source: Blue Point Capital Partners
