On Wednesday, Protective Industrial Products announced that it has acquired Paramount Safety Products, a manufacturer of safety products to distribution in the Oceania Region — primarily in Australia and New Zealand.
It marks the first acquisition for hand protection and PPE supplier PIP since it was privately acquired by Odyssey Investment Partners earlier this year.
The Paramount deal closed on Wednesday, while financial terms were not disclosed.
Founded in Perth, Australia in 1992, Paramount has more than 100 employees across Australia, New Zealand, Latin America, the Middle East (Dubai) and Africa. It has developed safety products for use across a wide range of industries and applications including mining, oil and gas, construction, infrastructure, manufacturing, logistics and agriculture as well as home improvement and maintenance. Paramount's portfolio of brands include Pro Choice Safety Gear, Linq Height Safety, Pratt Environmental & Site Safety Systems, Thorzt Hydration Products, MEDIQ First Aid, BISON Safety and Footwear and WORKIT Workwear.
"The addition of Paramount is key to PIP’s objective of servicing customers around the globe and to provide them with more opportunities for growth," said Joe Milot, PIP president and CEO, "We saw great similarities in our business models and synergies with Paramount’s products and brands and are very proud to have a company with such a rich legacy join us."
Paramount with merge with PIP Australia Pty to serve customers across Australia, New Zealand and Oceania. Tim and Will Bird will continue leading the Paramount team in the Oceania Region.
“We are equally excited to join the PIP Global family,” stated Tim Bird, CEO of Paramount. “We had been looking for the right partner to continue the dream of our father, the late Rob Bird.”
Will Bird, Paramount director of operations, added, “We found that Joe Milot built PIP on similar principles and values that our father outlined when he started Paramount."
Paramount debuted at the National Safety Congress & Expo in 2019.
PIP's most recent previous acquisition was in November 2020 of Primax Manufacturing & Trading, which does business primarily through its Caiman brand of safety apparel.