A quite active first trimester 2023 on the PPE market in terms of M&A:
- In February 2023, acquisition of a majority stake in PIERCAN, French leading manufacturer of drybox gloves, by SIPAREX and MERIEUX EQUITY PARTNERS. PIERCAN generated €24.5m of sales in 2021;
- In March 2023, acquisition of ARBEITSSCHUTZ EXPRESS, an online distributor of workwear and PPE in Germany, by BUNZL. ARBEITSSCHUTZ EXPRESS generated €41m of sales in 2022;
- In March 2023, acquisition of a majority stake in SAFETOP INNOVATIVE PROTECTION SL, a Spanish company specialized in PPE, by LUCEIRO CAPITAL. SAFETOP generated more than €10m of sales in 2022;
- Last but not least, acquisition of a majority stake in U-Power, a leading Italian manufacturer of safety footwear and workwear, by NEUBERGER BERMAN GROUP and NB RENAISSANCE, in March 2023. U Power is said to have generated a turnover of €270m in 2022.
Transaction prices are not public but reflect the specificities of each deal (technical nich player, digital business, large platform).
Probably more to come in the coming months!
