Current Capital Advises Victor Capital Partners on its Acquisition of SlipNOT
New York, New York, January 11, 2021 – Current Capital is pleased to announce that an investor group led by Victor Capital Partners, a middle market private equity firm, has acquired family-owned SlipNOT Metal Safety Flooring, the leading U.S. provider of metal slip-resistant surfaces to a variety of end markets. Terms of the transaction were not disclosed.
Headquartered in Detroit, Michigan, SlipNOT manufactures proprietary slip resistant surfaces designed to increase safety and reduce risk. SlipNOT’s product line consists of floor plate, grating, stair treads, and ladder rungs, among others. Its products are designed and manufactured for superior performance and durability in preventing slip, trip, and fall accidents in industrial, commercial, military, and municipal settings.
Victor Capital was evaluating the opportunity and approached Current Capital seeking help around due diligence and gathering the right team for the business. We assembled a team of industry leaders that brought expertise across a wide range of disciplines, allowing for an efficient diligence process and the development of a long-term strategic plan. As part of the transaction, two of our industry leaders will remain active with the Company post-closing: Larry Wash will serve as Non-Executive Chairman and Bill Davidson will serve as President; the two worked together previously in leadership roles at Trane and Ingersoll Rand.
“It’s inspiring to partner with a team that is so committed to protecting workers and pedestrians from slip, trip, and fall accidents,” Wash stated. “The positive reputation of the company in the market is a reflection of the product’s unique performance attributes and the company’s commitment to putting its customers first for over three decades.”
By leveraging Victor Capital’s experience investing in mid-sized industrial manufacturing businesses with valuable brands, this investment and partnership is expected to help the company expand into new markets, enhance its core product offerings, and continue the impressive growth trajectory it has enjoyed in recent years.
Current Capital advised Victor Capital on the acquisition, providing senior attention, deep industry knowledge and financial analysis, industry leaders from the sector, and execution services. Current Capital also co-invested alongside Victor Capital as part of the transaction.
“Current Capital is a longstanding partner of ours; they understand our strategy and provide advice and insight along with a world-class network of industry experts that are critical in today’s very competitive and complex environment.” added Douglas R. Korn, Managing Partner of Victor Capital.
About Victor Capital Partners
Victor Capital Partners is a middle-market private equity firm that invests in branded businesses with compelling growth potential in consumer and industrial products and services as well as business services. Victor Capital uses its capital and resources to partner with companies in its target sectors that have valuable brands, solid foundations in technology, potential for add-on acquisitions, and attractive business and market trends and characteristics. The firm was founded in late 2015 by Doug Korn, a private equity veteran who has been partnering with strong management teams to help build great companies since the late 1980s. For more information on Victor Capital, please visit www.victorcapitalpartners.com.
About SlipNOT® Metal Safety Flooring
SlipNOT manufactures proprietary slip resistant surfaces designed to increase safety and reduce risk. SlipNOT’s product line consists of floor plate, grating, stair treads, and ladder rungs, among others. All products exceed OSHA and ADA requirements and non-slip recommendations for coefficient of friction. For more information about SlipNOT, please visit www.slipnot.com.
About Current Capital Partners
Current Capital Partners LLC is an independent advisory and merchant banking firm focused primarily on the industrial and services sectors. We provide mergers and acquisitions and restructuring advisory services, corporate management services, and private equity investing. The mergers and acquisitions advisory effort offers high quality financial advisory services – including ideas, buy-side and sell-side execution, strategic and capital structure reviews, restructuring advisory and related services – for corporate and investment firm clients seeking an independent perspective and senior attention. In our management services effort, we manage investments, provide restructuring advice, sit on Boards of Directors and provide related consulting services for other investors and financial institutions; and offer advice and expert witness services in complex corporate litigation. Our private equity investing business helps create value, primarily in lower middle market and smaller companies, with an integrated operating, finance and investment approach. Our Advisory Board and Executive Network are important advantages for our clients. Learn more at www.currentcap.com.
Kevin J. Smith
Telephone: +1 212 223 0637
Email: [email protected]
Larry G. Wash
Telephone: +1 732 496 2516
Email: [email protected]