Co-founders of PIP Global partner with Audax Private Equity in recapitalization of company
Audax Private Equity ("Audax") today announced that it has partnered with the Milot and Tao families, co-founders of Protective Industrial Products Global Holdings Inc. ("PIP Global"), to re-capitalize the company, a leading global supplier of hand protection products and other consumable personal protective equipment ("PPE"). Joe Milot will continue as President and CEO of PIP Global and both the Milot and Tao families will retain significant ownership interests in the Company. Terms of the transaction were not disclosed.
Geoffrey S. Rehnert, Co-CEO of Audax Group, said "PIP Global is a recognized leader in the consumable safety products market that has grown significantly during the last three decades. We look forward to supporting Joe Milot, his family, the Tao family and the entire PIP Global team to continue growing the business organically and through acquisitions."