Sperian Buying Fast-Growing UK Fall Protection Company
Sperian Protection announced this week it has agreed to buy Combisafe, a fall protection company with headquarters in Northampton, England. Combisafe provides fall prevention consutling services and fall arrest and prevention products through distributors in the United Kingdom, Germany, France, Spain, Norway, Denmark, the Netherlands, Finland, Dubai, and Australia, according to financial information available on its Web site. Sperian said it is paying about $93 million to buy the company from Fairford (Sweden), a group owned by Lebanese businessman Salah Osseiran.
Combisafe has about 100 employees, was founded in 1984, and is growing its sales at a double-digit rate, according to Sperian's release. This is borne out by the new sales offices Combisafe opened in 2006: They were in Norway, France, Denmark, Spain, the Netherlands, and Dubai, the company said.
"The acqusition perfectly fits the Group's strategy of growing in high added value market segments," Sperian's release states. "Combisafe brings to Sperian complementary product offering, expertise and services in the infrastructure work and commercial construction markets and expands Sperian's current fall protection system portfolio. It also immediately reinforces Sperian's presence into the fast growing Middle-East market with their significant operations in Dubai and further expands Sperian's presence in the Northern European Market." The purchase is subject to regulatory approvals and is expected to close iwthin 30 days, the release says.