Protective Industrial Products Inc., Latham, New York — a supplier of hand protection and PPE to the industrial, construction and retail markets — announced the acquisition of Primax Manufacturing & Trading Inc. Financial terms of the deal weren’t disclosed.
PIP is a portfolio company of Audax Private Equity. Primax, headquartered in La Mirada, California, is maker of the Caiman brand.
“For PIP, the addition of Caiman products increases our penetration with customers in demanding markets such as welding and utilities,” said Joe Milot, president and CEO of PIP. “The acquisition will help to strengthen the value we offer to our distributors. Despite global headwinds, we continue to work hard to make the right acquisitions to better serve our customers by providing a leading portfolio of PPE.”
Added Gene Hong, president and founder of Primax: “We are very excited to join the PIP global family. We had reached an important inflection point and had our eyes open to identifying the ‘next best move.’ When we started speaking with the team at Audax and realized they shared PIP’s vision for growth based on expanding opportunities for customers, I knew we had found the right partners.”