Latham, New York-based PPE manufacturer Protective Industrial Products (PIP) has acquired ISM Heinrich Krämer GmbH & Co. KG, the company announced May 16. Financial details of the transaction were not disclosed.
Founded in 1930, ISM is a manufacturer of safety footwear, functional clothing and workwear based in Lippstadt, Germany. ISM specializes in athletic-inspired safety footwear and offers brands including PUMA Safety, ALBATROS and FOOTGUARD.
“Our goal is to provide our valued customers around the world with innovative, best-in-class safety solutions that deliver more opportunities for growth,” PIP President and CEO Curt Holtz said in a news release. “The addition of ISM significantly expands our footwear presence and opportunities globally and provides greater access to customers in key markets in Europe and Asia. We have long respected ISM and believe both companies share similar cultures and have strong and passionate management teams that are committed to continuing to add value for our customers.”
ISM CEO Julia Krämer-Gümüs and her husband Engin Gümüs will continue to lead ISM following the acquisition, according to the release.
“We’ve always been focused on building our business globally in the right way and making ISM even more successful for our customers and our employees, so finding the right partners was critical,” Krämer-Gümüs and Gümüs said in a joint statement. “It was important for us to preserve this for the future of ISM and its employees, and we look forward to joining the PIP family.”
The transaction is expected to close at the end of the month, according to the release.