List of transactions in the personal protective equipment sector (and adjacent segments) in the first half of 2026

Below is the list of transactions in the personal protective equipment sector (and certain adjacent segments such as collective protection, technical fabrics, distribution of medical and hygiene products, and gas detection) identified by Auteuil M&A Conseil since the beginning of 2026.

These transactions are somewhat fewer in number than in previous half-year periods, reflecting a degree of wait-and-see attitude among market participants in the face of limited visibility in Europe. Nonetheless, several notable deals have been identified in Europe, such as the acquisition of Seyntex by Ceres Industries Capital, and that of Lebeurre SAS by Coverguard. We are also seeing a strong appetite for PPE aimed at the military, emergency response forces and firefighters.

• Acquisition by OptiGroup, European distribution group offering customised supply solutions to B2B customers in cleaning and facility management, hotel and restaurant, health and medical care, the transport sector, the manufacturing industry and the graphical sector, of the Dutch company Textiel Services Nederland B.V., specialist in (i) washing, repairing, selling and renting workwear, (ii) supplying and renting personal protective equipment, and (iii) providing workplace hygiene services and related solutions (sales undisclosed).
• Acquisition by Hailo Wind Systems, German manufacturer of service lifts, ladders and climbing aids as well as service provider (advice, installation, maintenance, safety training), of parts of the former German PPE and fall protection manufacturer Bornack, together with the Hochwerk training centre (sales undisclosed).

• Acquisition by the Croulet family of the stake held by Capza, Bpifrance, BNP Paribas Développement and CASRA Capital (approx. 25% in aggregate) in Groupe Novarc, enabling the family to own close to 100% of the group. Groupe Novarc operates three divisions: the Safety division, European leader in electrical safety equipment for the construction and maintenance of low-, medium- and high-voltage power lines; the Motion & Industry division, specialising in chemical products for automotive maintenance and industrial applications; and the Networks division, which supplies equipment and services for power, rail and telecom networks (€349m sales in 2024).
• Agreement signed by Haki Safety, industrial group of Swedish origin offering work-zone safety products and solutions, system scaffolding, and digital and technical solutions that create safe working conditions in challenging environments, to acquire the British company Newbow Aerospace, leading manufacturer of ground support equipment used for the safe maintenance of aircraft (€3.8m sales).
• Acquisition by Luca and Nicola Badio of full ownership of Spirale Srl, Italian company specialising in the manufacture of safety and leisure boots. They acquired the stakes held by the two investment funds that had backed them over the previous twelve years (€27.4m sales in 2024).

• Acquisition by National Safety Apparel, US-based manufacturer of purpose-built PPE serving industrial, utility and public-sector customers across key industrial safety categories — including flame-resistant workwear, arc flash and electrical PPE, and high-heat industrial protection — of the High Performance Flame Resistant and High-Visibility product lines from Lakeland Industries, Inc., leading US manufacturer of protective clothing and apparel for industry, healthcare and first responders (US$ 15-20m sales, Auteuil M&A Conseil estimate).
• Acquisition by 3M, in partnership with Bain Capital, of Madison Fire & Rescue (US company specializing in rescue technology and fire suppression) from Madison Industries for US$1.95bn. 3M and Bain Capital established a joint venture — into which 3M contributed its Scott Safety business (self-contained breathing apparatus) and received US$700m in cash proceeds at closing — which acquired Madison Fire & Rescue. 3M now owns 50.1% of the new company named Sentorum, and Bain Capital 49.9% (sales undisclosed).

• Acquisition by Ceres Industries Capital, French private equity firm, of the Belgian group Seyntex N.V., developer and manufacturer of advanced protective clothing and equipment for defence and public safety (€96m sales as of March 2025).
• Acquisition by Wonder Grip Europe SAS, European subsidiary of the Japanese group Wonder Grip, leading manufacturer of industrial safety gloves, of Guyard SA, French manufacturer of safety gloves renowned for its expertise in leather gloves (€11.6m sales in 2024).
• Acquisition by Delta Plus, leading player in personal and collective protective equipment, of Sicur Delta, Italian player in fall protection systems against falls from height (€10.5m sales), and Athenas, Brazilian specialist in fall protection (€7.2m sales).
• Strategic investment (acquisition of a 30% stake) by Ejendals Group AB, Swedish manufacturer of TEGERA safety gloves and JALAS safety footwear, in Voxear Technologies AB, Swedish company focusing on in-ear hearing protection with integrated communication (sales undisclosed).

• Acquisition by Blåkläder Workwear, Swedish manufacturer and distributor of premium workwear, safety gloves and safety footwear, of Diamondback Toolbelts, professional-grade toolbelt and work gear manufacturer headquartered in Charlottesville, Virginia (US$5–6m sales, Auteuil M&A Conseil estimate).
• Acquisition by PK Safety UK, UK company supplying PPE, safety clothing and workwear as well as janitorial and workplace safety products, of iSB Group, UK supplier of PPE products, first aid kits, signage, site safety, and hygiene and cleaning products (£1.8m sales in 2024).

• Entry into exclusive negotiations by Coverguard, French safety designer offering head-to-toe PPE, with the shareholders of Lebeurre SAS for the acquisition of the group, French specialist in technical garments and workwear positioned in the construction, industry, agriculture, logistics and landscaping sectors (€40–50m sales, Auteuil M&A Conseil estimate).
• Acquisition by MSA Safety Inc., US global leader in advanced industrial safety technology, products and solutions, of Autronica, Norwegian designer, manufacturer and supplier of fire detection, gas detection and alarm systems serving the critical infrastructure, energy and maritime sectors (approx. US$160m sales in 2025).
• Acquisition by SureWerx, US leading supplier of professional tool, equipment and safety products for workers, of the Italian company Genesi Srl, leading provider of safety solutions for work-at-height and confined spaces (€15.3m sales in 2024).
• Acquisition by Haki Safety, industrial group of Swedish origin offering work-zone safety products and solutions, system scaffolding, and digital and technical solutions that create safe working conditions in challenging environments, of Combisafe, Swedish company owned by PIP and former asset of Honeywell Safety Products, specialising in collective fall protection products for temporary workplaces (€7-8m sales, Auteuil M&A Conseil estimate).

• Acquisition by Safilo Group, Italian group specialised in the production and distribution of prescription, sun and sports eyewear, as well as ski and cycling goggles and helmets, of SPY+ and Serengeti assets in Europe and two dedicated entities operating in the United States and Canada, from Bollé Brands. SPY+ supplies premium sunglasses, goggles, helmets and prescription eyewear for action and outdoor sports, while Serengeti is a premium sunglasses brand for drivers (combined sales of the two US brands of approximately US$39m according to press reports).