The Edgewater Funds Acquires BarrierSafe Solutions International, Inc.
The Edgewater Funds, along with equity partner Linden LLC, announced today that they have acquired BarrierSafe Solutions International, Inc. (“BSSI”), a leading provider of branded, disposable barrier protection and infection control products, from Riverside Partners and StoneCreek Capital.
Headquartered in Reno, BSSI sells more than six billion gloves annually across 180 product families under two umbrella brands, FoodHandler® and Microflex®. By focusing on premium products, BSSI has built leading market shares in the foodservice, emergency medical services, automotive, dental, laboratory, and industrial markets. BSSI was created in 2004 through the merger of FoodHandler and Microflex, although the two businesses have histories of delivering quality products dating back to 1969 and 1987, respectively.
BSSI’s senior management team, which has over 100 years of experience within the industry, will retain an ownership stake in the company and continue to lead the organization. The team is headed by Chief Executive Officer Mike Mattos, who brings 25 years of experience including senior management roles at Safeskin and Kimberly Clark.
Mr. Mattos said, “BSSI has a leading portfolio of barrier products that enables us to deliver solutions for basic health an safety needs across a broad spectrum of customers. We look forward to working together with our new partners at Edgewater (and Linden) to further grow our business and expand our infection control, food service, and industrial safety platforms through continued organic growth as well as additional acquisitions.”
FirstLight Financial Corporation and CIT Healthcare LLC co-managed the senior debt and Brown Brothers Harriman & Co.’s BBH Capital Partners III and Metropolitan Life provided the subordinated debt financing and an equity co-investment. Kirkland & Ellis provided legal advice to the buyers. Financial terms of the transaction were not disclosed.
About BarrierSafe Solutions International, Inc.
BarrierSafe is a leading developer and marketer of branded disposable hand protection and related products. The company offers an extensive selection of high quality disposable gloves and other specialized products for a diverse range of growing niche markets, including the foodservice, dental, laboratory, emergency medical services, non-acute healthcare, automotive, and general industrial segments, in which branding, quality, innovation, and features are key differentiators that drive end-user demand and loyalty. For additional information, please visit www.barriersafe.com.