Paramount Safety Products has a new owner
It has been acquired by Protective Industrial Products, a supplier of hand protection and PPE for the industrial, construction, and retail markets
Thu Jul 08 2021
The deal by Protective Industrial Products (PIP) to acquire Perth-based Paramount Safety Products closed recently but financial terms were not disclosed. It marks the first acquisition for PIP since it was taken over by private equity firm Odyssey Investment Partners in late 2020. Joe Milot, PIP president and CEO, said:
The addition of Paramount is key to PIP's objective of servicing customers around the globe and to provide them with more opportunities for growth. We saw great similarities in our business models and synergies with Paramount's products and brands and are very proud to have a company with such a rich legacy join us.
Paramount with merge with PIP Australia to serve customers across Australia, New Zealand and Oceania. Tim and Will Bird will continue leading the Paramount team in the Oceania region. Tim Bird, Paramount's CEO, said:
We are equally excited to join the PIP Global family. We had been looking for the right partner to continue the dream of our father, the late Rob Bird.
Will Bird, director of operations at Paramount, added:
We found that Joe Milot built PIP on similar principles and values that our father outlined when he started Paramount.
Founded in Perth (WA) in 1992, Paramount has over 100 employees across Australia, New Zealand, Latin America, the Middle East (Dubai) and Africa. It has developed safety products for use across a wide range of industries and applications including mining, oil and gas, construction, infrastructure, manufacturing, logistics and agriculture as well as home improvement and maintenance. Paramount's portfolio of brands includes Pro Choice Safety Gear, Linq Height Safety, Pratt Environmental & Site Safety Systems, Thorzt Hydration Products, MEDIQ First Aid, BISON Safety and Footwear and WORKIT Workwear.
PIP has over 20 locations around the world. Established in 1984, the company offers a broad suite of PPE products and brands including hand & arm protection, protective clothing, head protection, eye & hearing protection, and other safety protection.
It is headquartered in Latham, New York (USA), and the business has a diversified channel presence across distributors, retailers, and e-commerce platforms, and an end-to-end logistics platform.