Edgewater Announces Sale of BarrierSafe Solutions
Edgewater Growth Capital Partners II, L.P. is pleased to announce the recent sale of our portfolio company BarrierSafe Solutions International Inc. (“BarrierSafe”). BarrierSafe is a leader in the Personal Protective Equipment industry. The Company designs, develops and markets disposable gloves and related food and health safety products. It sells over six billion single-use gloves annually. BarrierSafe was acquired in November 2007 and its recent sale produced a highly attractive return. Edgewater and Linden Capital Partners were the majority equity owners of the Company and partnered with management who were minority investors.
Since acquiring the company in 2007, BarrierSafe’s revenue and EBITDA has increased significantly. Edgewater helped lead the integration of Microflex Corp. and FoodHandler, Inc. which formed BarrierSafe. We also recruited new leadership, streamlined operations and worked closely with management on organic growth and add-on acquisitions. BarrierSafe’s results reflect Edgewater’s investment strategy of low acquisition prices and conservative use of debt.