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Penfund-owned JET Group buys Sellstrom Manufacturing

The JET Group has acquired Sellstrom Manufacturing Co, a maker of personal safety equipment based in Schaumburg, Illinois. No financial terms were disclosed. JET Group, a marketer and distributor of tools and equipment to industrial, construction, safety, welding and automotive markets, said the acquisition adds to its product portfolio. It will also create opportunities for growth in the United States and globally, the company said. Based in Vancouver, JET Group and its affiliates were acquired by Penfund, a Canadian private equity firm, from Diamond Investment Group Ltd in November 2012.

PRESS RELEASE

The JET Group Announces the Acquisition of Sellstrom Manufacturing Co.

VANCOUVER, British Columbia (November 3, 2015)

The JET Group is pleased to announce the acquisition of Sellstrom Manufacturing Co., a leading U.S. brand of PPE (Personal Protective Equipment) safety products based in Schaumburg, Illinois. Terms of the transaction were not disclosed.

The acquisition of Sellstrom significantly broadens the JET Group’s Canadian safety portfolio by adding several categories of professional PPE products to complement its existing Pioneer® and Ranpro® safety apparel, and PeakWorks® fall protection brands. It also offers the JET Group a solid safety foundation with significant opportunities for expansion and growth within the United States and globally.

“We see tremendous upside for our Sellstrom U.S. and International customers as a result of the acquisition”, stated David Peters, President of Sellstrom. “By continuing to build out our PPE safety program, along with expanding our offering to potentially include an extensive portfolio of complementary JET Group premium brands, we open a whole new window of opportunity for our distribution partners around the globe.”

Chris Baby, President and COO of the JET Group noted that “Sellstrom offers our group the product line, expertise, and technical knowledge required to service the critical North American safety markets and beyond. Similarly, the JET Group offers Sellstrom several benefits including additional resources and financial capacity. These benefits will allow the Sellstrom brand to further capitalize on its legacy of outstanding product innovation, customer service and growth. This product range addition will also benefit our Canadian customer base tremendously and delivers on our promise to our distribution partners of expanding our Canadian safety portfolio to include a full range of PPE products.”

Sellstrom will continue to be headquartered in Illinois.

About JET Group
The JET Group, based in Vancouver, Canada consists of several leading brands servicing the professional tool, equipment and safety markets including: JET®, Strongarm®, ITC®, STARTECH®, Pioneer®, Ranpro® and PeakWorks® in Canada, and American Forge & Foundry® in the U.S. The JET Group operates an unparalleled delivery system to the Canadian industrial, construction, safety, welding and automotive markets through its six warehouses, large corporate sales force and loyal distribution network coast-to-coast. The JET Group is owned by Penfund, one of Canada’s oldest independent private equity firms.
Website: www.jetgroupbrands.com

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