Protective Industrial Products, Inc. Acquires ISM – Leader in Athletic Inspired Safety Footwear and Global Licensee for PUMA® Safety Shoes
LATHAM, NY – May 16, 2023 – Protective Industrial Products, Inc. (“PIP®”), a global leader in personal protective equipment (PPE) including hand protection, above-the-neck protection, workwear and footwear, proudly announces that a definitive agreement to acquire ISM Heinrich Krämer GmbH & Co. KG (“ISM”), headquartered in Lippstadt, Germany, has been signed. The transaction is expected to close at the end of the month. PIP®, with over 30 locations around the world, is a portfolio company of Odyssey Investment Partners.
ISM is a third-generation family business with over 90 employees. Today, it has become one of the world’s leading and fastest growing providers of athletic inspired safety footwear. ISM is well known for their innovative footwear technology and designs, serving both men and women in the workplace under the PUMA® Safety, ALBATROS®, and FOOTGUARD® brands. ISM is the exclusive global licensee for PUMA® Safety Shoes.
“We are excited to welcome ISM to the PIP family”, explained Curt Holtz, President and CEO of PIP®. He continued, “Our goal is to provide our valued customers around the world with innovative, best-in-class safety solutions that deliver more opportunities for growth. 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.”
Julia Krämer-Gümüs and Engin Gümüs, who will continue leading ISM shared, “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.” They added, “For many years we’ve known co-founder and current Executive Chairman Joe Milot and have had a strong business relationship with PIP®. He and key members of his management team all share many of the strong values that are core to family-founded businesses. 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."
ISM is another example of the successful PIP® acquisition strategy built upon a commitment to strengthening its portfolio of products, so that global customers choose PIP® first for all their safety needs.
ABOUT PROTECTIVE INDUSTRIAL PRODUCTS
Protective Industrial Products (PIP®) is a leader in providing innovative personal protective equipment (PPE) which includes Hand Protection, Above-the-Neck Protection, Workwear and Footwear to the industrial, trades, retail and e-tail channels. PIP®, along with its recognized global brands: PIP®, G-Tek®, Boss®, Grippaz®, Bisley Workwear® and its licensed PPE brands, CAT®, John Deere®, Scotts Miracle-Gro® and now PUMA® Safety Footwear brand are relied upon for personal protection by workers every day. Additional information about PIP® is available at www.pipglobalsafety.com.
ABOUT ISM HEINRICH KRÄMER GMBH & CO.
ISM Heinrich Krämer GmbH & Co. (“ISM”) was founded by Heinrich Krämer in 1930. As a family business based in Lippstadt, ISM has become one of the world’s leading manufacturers of safety footwear, functional clothing and workwear. Our success is built upon our innovations, competitive products, solution-oriented services and global network. Our team of over 90 employees help us develop new and unusual approaches every day. We believe in continuous improvement and always aim to inspire our customers with safe and impressive products. Additional information about ISM is available at www.ism-europa.de.
ABOUT ODYSSEY INVESTMENT PARTNERS
Odyssey is a top private equity firm with a rigorous approach to thematic investing in industrial and business services markets. Through our Buy, Build and Integrate approach, we transform middle-market companies into highly efficient, diversified leaders with attractive long-term growth profiles. Since 1997, we have raised over $8.2 billion of private equity capital that has been invested in over 50 platform companies that have completed approximately 300 add-on acquisitions.