Conney Safety acquired by private equity firm

Industrial Distribution staff -- Industrial Distribution, 10/2/2007 12:03:00 PM

Conney Safety Products L.L.C. has been acquired by Caxton-Iseman Capital L.L.C., a private equity firm.

The Business Journal of Milwaukee said Conney’s owner, K+K America Corp., sold the company for $48 million.

Conney, a distributor of general safety supplies and fall protection products, is based in Madison, Wis.

Thomas Ritchie, vice president at Caxton-Iseman, told the Business Journal that the firm planned to expand Conney’s market and customer base through a strategy that would involve future add-on acquisitions.

GMAC Commercial Finance and BlackRock Kelso Capital Corp. provided financing for the transaction.