Evergreen acquires SafeWorks
By Euan Youdale11 August 2014
Private equity fund Evergreen Pacific Partners has completed the acquisition of Seattle, USA-based SafeWorks from Wynnchurch Capital.
Founded more than 60 years ago, SafeWorks designs and builds hoists, service lifts, climb assist systems, platforms, rigging devices and other safety products and provides training and services. Scott Farrell will remain as CEO.
The company sells its products under three brand names: Spider, sold through 24 company owned branches in the Americas; Power Climber, sold worldwide via a distributorship network; and Power Climber Wind, sold globally to wind power OEMs, service companies and wind plant owners.
“SafeWorks is a company with a solid leadership position in end markets that are experiencing global growth,” said TJ McGill, co-founder and managing partner of Evergreen Pacific Partners. “With its seasoned management team, strong network of distribution partners and demonstrated ability to innovate and deliver new products, SafeWorks is poised for continued strong growth in the US, Europe and the rest of the world.”
Mr Farrell added, “We will continue to invest in new technologies and products to better serve the needs of our existing customers and partners, while looking forward to advancing aerial access and safety solutions that raise the bar for the entire industry.”
This is the 10th investment in a Pacific Northwest-based business since 2005 for Evergreen Pacific Partners, which manages two private equity funds totaling $700 million.