Wind Point Partners Acquires Handgards
Wind Point invests in leading manufacturer and supplier of disposable food safety products
Chicago, IL, October 15, 2020 – Wind Point Partners (“Wind Point”), a Chicago-based private equity firm, announced today that it has acquired Handgards, Inc. (“Handgards” or the “Company”), a leading manufacturer and supplier of high-quality foodservice disposable products. Headquartered in El Paso, Texas, the Company provides a suite of disposable food safety and hygiene-oriented products for the foodservice industry, including gloves, bags, protective apparel and flexible packaging. Handgards’ products are sold throughout North America to an extensive base of broadline distributors, group purchasing organizations (“GPOs”) and national foodservice accounts.
Wind Point will be partnering with Handgards management and established industry executive Joe Kubicek, who has joined Handgards as CEO. Mr. Kubicek has significant experience leading manufacturing businesses that supply single-use gloves and other consumables. Most recently, Mr. Kubicek served as President of Ansell’s (ASX: ANN) Global Healthcare business following his dual role as President of Ansell’s Single-Use Products business unit and Head of Global Supply Chain. Prior to Ansell, Mr. Kubicek served as COO and CFO of BarrierSafe Solutions International (“BSSI”) for seven years leading up to Ansell’s acquisition of BSSI in 2014.
Mr. Kubicek commented, “I am excited to join Handgards and work alongside the Company’s top-caliber management team. The team has built a tremendous business, and they are the core driver of Handgards’ stellar reputation. The Company’s safety-oriented product offering is increasingly critical to its customers’ operations, and we will remain dedicated to supporting our customers’ growth by supplying the highest-quality products coupled with industry-leading service.”
Paul Peterson, Managing Director at Wind Point, stated, “Handgards represents another example of Wind Point’s ability to partner with a successful middle-market company in need of a leadership succession plan. Handgards has demonstrated impressive organic growth, driven by its unique collaborative culture and a strategic vision developed by the Company’s late CEO, Bob McLellan. We will remain committed to continuing Bob’s legacy by investing further in the Company’s growth while staying true to its values and collaborative culture.”
Advising Wind Point on the transaction were executives Patrick Larmon and George Chavel, who have both joined the Handgards board of directors. Mr. Larmon, a 30-year industry veteran, will serve as the Company’s Board Chair. Mr Larmon brings extensive distribution experience, having most recently served as President and CEO of Bunzl Distribution, North America, for over fifteen years. This represents the second partnership between Wind Point and Mr. Larmon, who is also a member of the firm’s Executive Advisor Partner program. Mr. Chavel most recently led Sodexo North America as President and CEO following over fifteen years of increasing leadership roles within the business.
Wind Point and management will continue investing in Handgards to further expand the Company’s breadth of product offerings and manufacturing footprint through a combination of organic growth initiatives and acquisitions.
Handgards EVP of Sales & Marketing, John Lewchenko, noted, “Since I’ve been a member of the Handgards team, we have successfully grown our business by always remaining customer-centric and true to our mantra of ‘Right glove, right task, right price’. We are excited to partner with Wind Point and their impressive group of advisors especially because they understand and appreciate the value of this philosophy.”
Kirkland & Ellis LLP served as legal counsel to Wind Point. BKD, LLP provided transaction advisory services in connection with the transaction.