An affiliate of H.I.G. Advantage, an investment affiliate of H.I.G. Capital, completed the acquisition of Supply Source Enterprises (SSE), a manufacturer of branded and private label personal protective equipment and janitorial, safety, hygiene and sanitation products, from Genuine Parts Company (GPC).
Headquartered in Cleveland, SSE offers a product portfolio and differentiated value-added services. Through its Safety Zone and Impact Products divisions, SSE serves janitorial and sanitation supply distributors, safety products resellers, food service and food processing distributors and retailers.
“We are excited to enter into this new chapter with H.I.G. Capital,” Steve Schultz, CEO and president of SSE, said. “We have been fortunate over the last few years with the support of Genuine Parts Company to execute on our strategic plan. We are excited about SSE’s growth prospects and believe our customers and employees will benefit immensely from H.I.G.’s support as we embark on our next growth phase.”
“We look forward to partnering with Steve and the entire management team to support SSE’s continued growth. H.I.G. will bring additional expertise and resources to SSE to support management as they continue to broaden SSE’s customer base, expand offerings and enhance services,” Rahul Vinnakota, managing director at H.I.G., said. “Importantly, given the critical role of these businesses in the COVID-19 pandemic, we remain committed to ensuring continuity of service to customers while prioritizing the wellbeing of employees.”
Funds affiliated with Ares Management provided financing for the transaction. Harris Williams and Robert W. Baird are acting as financial advisors and McDermott Will & Emery is acting as legal counsel to H.I.G. J.P. Morgan is acting as financial advisor and Troutman Sanders is acting as legal counsel to GPC.