National Safety Apparel acquired by Blue Point Capital Partners

Cleveland’s National Safety Apparel has been acquired by private equity firm Blue Point Capital Partners, which has ambitious plans for growing the business. 

Financial terms of the deal, which follows a recapitalization announced Tuesday, May 21, were not disclosed.

NSA, founded in Cleveland in 1935, is a manufacturer of personal protective equipment (PPE) and various safety products for electrical, industrial and service applications.

Some of its strongest end markets include the utility and electrical services sectors. And its product portfolio includes brands like DRIFIRE, Enespro and Wild Things.

“Blue Point’s experience in our industry and alignment with our culture made them the right choice for NSA as we explore new avenues for expansion in the safety products market,” said Chuck Grossman, NSA’s CEO and fourth-generation owner, in a statement. “Together, we will continue to scale the business while staying true to NSA’s mission: to ensure the protection of workers and help them return home safely every day.” 

While the company declined to share financial information, Blue Point states that NSA has posted double-digit growth annually for more than a decade.

A Blue Point official emphasized how NSA operates in attractive markets poised for continued growth themselves, which bodes well for NSA’s outlook as a business.

“NSA’s impressive performance and customer loyalty demonstrate their exceptional market position and quality products,” said Blue Point partner Jonathan Pressnell in a statement. “The company is an excellent fit with Blue Point’s manufacturing and safety sector investing experience.”

He added, “Looking ahead, we plan to provide capital and operational resources to assist management in accelerating growth and driving efficiency, building on the impressive track record already established by the NSA team.”

In terms of staff, NSA reports more than 900 employees today.

That headcount could grow further, according to Blue Point, as its new owner works to grow the company through new product introductions, geographic expansion and strategic M&A.

Blue Point regularly pursues add-on acquisitions as part of its growth strategy for portfolio companies, and the same is expected here. In particular, the firm said it will seek tuck-in companies in the fragmented landscape for safety-oriented products to expand product offerings and capabilities at NSA.

Blue Point is based in Cleveland with additional offices in Charlotte, North Carolina; Seattle; and Shanghai. It typically invests in businesses that generate between $30 million to $300 million in revenue.