Sun Capital Partners has sold its stake in Point Blank Enterprises to JLL Partners. No financial terms were disclosed. Based in Pompano Beach, Florida, Point Blank is a maker of ballistic and soft armor systems.
BOCA RATON, FL – June 1, 2015 – Sun Capital Partners, Inc. (“Sun Capital”), a leading private investment firm specializing in leveraged buyouts and investments in market-leading companies, today announced that an affiliate has completed the sale of its investment in Point Blank Enterprises, Inc. (“Point Blank” or the “Company”), the largest global supplier of ballistic and soft armor systems in the world, to JLL Partners. Terms of the private transaction were not disclosed.
Headquartered in Pompano Beach, Florida, Point Blank develops, manufactures and distributes a range of high performance, protective solutions for the U.S. Military and Department of Defense, Federal Agencies, and both domestic and international law enforcement and corrections professionals. These solutions include bullet, fragmentation and stab resistant apparel and related accessories, and are widely considered the most technologically advanced ballistic systems available.
Today’s Point Blank was created in 2012 following the merger and integration of three entities: Point Blank Body Armor and Protective Products Enterprises, which were both acquired through bankruptcy auctions; and Paraclete Armor and Equipment, MSA Safety Inc.’s ballistic vest business. The combined company leveraged its unequaled expertise in military, government, law enforcement and international body armor markets to develop cutting edge, robust armor solutions.
“While at the outset these businesses faced significant challenges, we saw huge potential and believed that an operationally-focused strategy would enable the company to achieve tremendous results in the global market,” said Marc Leder, Co-CEO at Sun Capital. “We’re extremely proud of Point Blank’s remarkable progress, and are confident the Company is poised for continued success under its new owner.”
Throughout the Sun Capital affiliate’s ownership, Point Blank made an array of operational improvements including: supporting a new management team dedicated to building a positive and collaborative culture, implementing important supply chain enhancements, adopting better product quality and delivery processes, investing in innovative new products, and entering new geographic markets and product segments.
“Point Blank’s global market success is a testament to what can be accomplished when operational expertise in manufacturing and quality improvement is combined with a committed management team,” said Scott Edwards, Managing Director at Sun Capital. “This is a company whose mission is genuinely noble: delivering products designed to protect servicemen and women and law enforcement officers who face high risk situations. We firmly believe Point Blank is well positioned to continue providing these end users with the protection solutions they need, and we wish the Company continued success.”
About Sun Capital Partners, Inc.
Sun Capital Partners is a global private equity firm focused on identifying companies’ untapped potential and leveraging its deep operational and financial resources to transform results. Sun Capital is a trusted partner that is recognized for its investment and operational experience, including particular expertise in the consumer products and services, food and beverage, industrial, packaging, chemical, building products, automotive, restaurant and retail sectors. Since 1995, Sun Capital has invested in more than 315 companies worldwide across a broad range of industries and transaction structures. Sun Capital has offices in Boca Raton, Los Angeles and New York, and affiliates in London, Frankfurt, Paris, Stockholm and Shenzhen. For more information, visit www.SunCapPart.com.