List of transactions in the Personal Protective Equipment (& adjacent) sector in the second half of 2024

You will find below a list of transactions which occurred in the Personal Protective Equipment sector (+ adjacencies) during the second half of 2024.

M&A in the PPE sector was of course dominated by the announcement of HONEYWELL PPE business acquisition by PROTECTIVE INDUSTRIAL PRODUCTS in November 2024, but many other transactions took place:

• Acquisition by ANSELL of the PPE business of KIMBERLY CLARK, comprising Kimtech™ brand (PPE for laboratory and cleanroom environments), and KleenGuard™ brand (PPE for industrial environments) (transaction price: US$640m);
• Acquisition by C.B.F BALDUCCI GROUP of 49.5% of P&P Loyal S.p.A., Italian distributor of workwear, promotional clothing and PPE (€15.5m of CA), majority owned by the Indian group Loyal Textile Mills;
• Emergency of SHOES FOR CREWS, US manufacturer of safety shoes (US$283m in 2023), from Chapter 11, restructuring of its debt, and transfer of all assets to a group of investors;
• Purchase by KARAM of HSE SOLUTIONS, PPE distributor of PPE in South Africa (approximately US$4m in turnover);
• Acquisition by SUREWERX, American-Canadian manufacturer of PPE, tools and equipment, of FALLSAFE, a Portuguese distributor of personal protective equipment and manufacturer of fall protection products. The company achieved a turnover of €3.1m in 2022.

• Acquisition by BUNZL of COMERCIAL CERMERON SL, Spanish distributor of hygiene and cleaning products to catering and hotel customers (€14m in turnover in 2023);
• Acquisition by a consortium led by Stefan Pierer of a majority stake in ROSENBAUER, Austrian company designing and manufacturing firefighters' vehicles, fire extinguishing systems, equipment and digital solutions for firefighters, and preventive firefighting systems (~€1.1bn in turnover in 2023).

• Acquisition by DELTA PLUS of ARMOR, Dutch company distributing and marketing safety shoes in the Benelux (€13.2m in turnover in 2023);
• Acquisition by VIKING LIFE SAVING EQUIPMENT of the "safety" department of Norwegian company LINDRUP MARTINSEN AS (16 employees taken over);
• Acquisition by GILDE EQUITY MANAGEMENT of a majority stake in DUNLOP PROTECTIVE FOOTWEAR, Dutch manufacturer of protective boots (€98.7m in turnover in 2023) from EQT Mid Market Europe fund.

• Acquisition by GROUPE RG, via its subsidiary PROSAFCO, of BEROEPSKLEDING LANDUYT, Belgian company specializing in workwear and personal protective equipment (undisclosed turnover);
• Acquisition by BUNZL of ARROW COUNTY HOLDINGS Ltd, distributor of hygiene and cleaning products in the United Kingdom (£24m in the UK);
• Announcement by LYRECO of its intention to acquire all the activities of GROENENDIJK BEDRIJFSKLEDING, Dutch company distributing workwear and safety footwear and serving the Benelux (undisclosed turnover).

• Acquisition by GROUPE RG of a majority stake in NOVINDUS group, Moroccan distributor of PPE (turnover of more than €7m);
• Acquisition by PIP of the PPE activities of HONEYWELL (acquisition price of USD1,325bn).

• Acquisition by BUNZL of COMODIS, French distributor of hygiene products in the Auvergne Rhône-Alpes region (around €25m in turnover);
• Acquisition and delisting of ORAPI Group by PAREDES, creation of PAREDES ORAPI GROUP, French leader in manufacturing and distribution of hygiene, cleaning and maintenance products (€445m in turnover);
• Transfer by EURAZEO PME of 2 RIDE HOLDING to debt holders ALCENTRA and BANK OF IRELAND.

• Acquisition by HULTAFORS GROUP AB of  LYNGSOE RAINWEAR ApS, Danish supplier of rainwear that used to belong to HANSEN PROTECTION (around €18m in turnover).