Harvey & Company Initiates and Invests in the Acquisition of Checkers Industrial Safety
Harvey & Company initiated and invested in the acquisition of Checkers Industrial Safety Products in December 2010. Below is the press release following the transaction:
Tonka Bay Acquires Checkers Industrial Products
February 7, 2011
Minnetonka, MN – Tonka Bay Equity Partners (“Tonka Bay”) today announced the acquisition of Checkers Industrial Products, LLC (“Checkers”). Tonka Bay joined with current management, including CEO Steve Henry, to acquire the company and to provide capital for growth. Checkers is Tonka Bay’s eleventh platform company in their current fund.
The company is headquartered in Broomfield, Colorado and manufactures and distributes a variety of branded safety products including cable protection equipment, wheel chocks, and flagstaffs for the industrial, mining, aviation, military, construction, and entertainment markets. The company has developed products that meet and exceed safety standards and has a leading position in its respective end markets. The company’s website can be found at www.checkersindustrial.com.
Shane Slominski, Tonka Bay Director and Checkers board member, stated, “We are excited to partner with the management team of Checkers. They have a long history of developing a wide array of niche branded safety products. We believe that the company is well-positioned to take advantage of several growth opportunities, including strategic tuck-in acquisitions, adding new distribution partners, expanding product lines into other safety categories and further international exposure.”
Steve Henry, CEO of Checkers, stated, “We see a great opportunity to continue to grow our business by enhancing our product offerings to our customers. We are excited about our partnership with Tonka Bay, as their experience and resources will help execute our shared vision of growth.”