Protective Industrial Products, Inc. has confirmed the acquisition of ISM – a leading name in athletic-inspired safety footwear and the global licensee for Puma Safety Shoes.
A global leader in personal protective equipment (PPE) including hand protection, above-the-neck protection, workwear and footwear, PIP has announced that a definitive agreement to acquire ISM Heinrich Krämer GmbH & Co. KG, headquartered in Lippstadt, Germany, has been signed. The transaction is expected to close at the end of the month.
PIP, with over 30 locations around the world, is a portfolio company of Odyssey Investment Partners whereas ISM is a third-generation family business with over 90 employees which has grown to become one of the world’s leading and fastest growing providers of athletic inspired safety footwear: ISM is well known for its innovative footwear technology and designs, serving both men and women in the workplace under the Puma Safety, Albatros and FootOOTguard brands.
Curt Holtz, President and CEO of PIP, said: “We are excited to welcome ISM to the PIP family. Our goal is to provide our valued customers around the world with innovative, best-in-class safety solutions that deliver more opportunities for growth. The addition of ISM significantly expands our footwear presence and opportunities globally, and provides greater access to customers in key markets in Europe and Asia.
“We have long respected ISM and believe both companies share similar cultures and have strong and passionate management teams that are committed to continuing to add value for our customers.”
Julia Krämer-Gümüs and Engin Gümüs, who will continue leading ISM, added: “We’ve always been focused on building our business globally in the right way and making ISM even more successful for our customers and our employees, so finding the right partners was critical.
“For many years, we’ve known co-founder and current Executive Chairman Joe Milot and have had a strong business relationship with PIP. He and key members of his management team all share many of the strong values that are core to family-founded businesses. It was important for us to preserve this for the future of ISM and its employees, and we look forward to joining the PIP family.”
