Protective Industrial Products, Inc. Acquires Paramount Safety Products A Leading PPE Supplier in Australia & New Zealand

LATHAM, NY – June 30, 2021 – Protective Industrial Products, Inc. (“PIP®”), a global leader in hand protection and PPE for the industrial, construction, and retail markets, proudly announces that it has acquired Paramount Safety Products (“Paramount”), headquartered in Perth, Western Australia. The transaction closed on June 30, 2021. PIP®, with over twenty locations around the world, is a portfolio company of Odyssey Investment Partners.

Paramount is the leading supplier of safety products to distribution in the Oceania Region. For over 30 years, Paramount 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.

"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, President and CEO of PIP®. He added, “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.”

“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, Director of Operations, added, “We found that Joe Milot built PIP® on similar principles and values that our father outlined when he started Paramount.” Tim and Will Bird will continue leading the Paramount team in the Oceania Region.

Paramount is another example of PIP's successful acquisition strategy and strengthens its portfolio of products which now includes the following brands: PRO CHOICE Safety Gear, LINQ Height Safety, PRATT Environmental and Site Safety Systems, MEDIQ First Aid, THORZT Hydration Products, BISON Safety and Footwear and WORKIT Workwear.

Based in Western Australia and employing over 100 people, Paramount Safety will merge with PIP Australia Pty Ltd., and together Paramount, now a PIP Global company, will continue to service customers across Australia, New Zealand and the Oceania Region.

ABOUT PROTECTIVE INDUSTRIAL PRODUCTS
Protective Industrial Products (PIP®) is a leader in providing innovative PPE to wholesalers and distributors in the industrial channels. PIP®, along with its recognized leading brands: G-Tek®, Bouton®, Ironcat®, Assurance®, Kut-Gard®, CleanTeam®, QRP®, Ambi-Dex®, Dynamic®, NOVAX®, Caiman® and Boss® are relied upon for personal protection by workers every day. Our West Chester® division offers safety products to leading Retail customers under the Safety Works®, Boss®, Brahma®, Mud®, West County Gardener® and Hearos® brands, as well as some of the world’s most recognized licensed brands. Additional information about PIP® is available at www.pipglobal.com.

ABOUT PARAMOUNT SAFETY
Founded by the late Rob Bird in 1992, Paramount Safety Products is a leader in industrial safety products for use in the construction, mining, infrastructure, manufacturing, food, and medical industries as well as home improvement, repair and maintenance. Paramount Safety Products have an ever-expanding range of technically advanced, high quality, high value safety solutions produced for extreme working conditions. For over 30 years, customers have relied on Paramount’s service and high-quality products and brands to make it safely home. Additional information about Paramount is available at www.paramountsafety.com.

ABOUT ODYSSEY INVESTMENT PARTNERS
Odyssey Investment Partners, with offices in New York and Los Angeles, is a leading private equity investment firm with more than a 25-year history of partnering with skilled managers to transform middle-market companies into more efficient and diversified businesses with strong growth profiles. Odyssey makes majority-controlled investments in industries with a long-term positive outlook and favorable secular trends. For further information about Odyssey, please visit www.odysseyinvestment.com.