VANCOUVER, British Columbia--(BUSINESS WIRE)--SureWerx, a leading supplier of professional tools, equipment and safety products for workers across North America, announced today the sale of SureWerx from Penfund to The Riverside Company, a global private equity firm.
“We are excited to partner with the SureWerx team to build upon their strong track record of growth, including through strategic acquisitions, while maintaining their outstanding track record of service,” said Riverside Partner Brad Roberts.
This strategic investment will serve as an opportunity for Riverside to further SureWerx’s growth strategy of adding complementary new products and brands, and delivering best-in-class service to its established network of loyal distributors and end-users. SureWerx prides itself in working collaboratively with distributor partners and the end users of their products to enhance worker safety and productivity.
“We are extremely excited to partner with Riverside. This new partnership will allow us to further build our platform of proprietary branded safety and tool & equipment products,” said Chris Baby, President & CEO of SureWerx. “With the support of Penfund, our team has worked diligently over the past six years to build an outstanding platform for growth, and we are grateful for the unwavering support they have given us. This transition represents a significant milestone for our company. Riverside offers additional resources that will enable SureWerx to quickly leverage the platform that we have created. Our visions are aligned, and we will be working strategically to bring additional innovative products and solutions to enhance worker safety and productivity in all of our end markets.”
For more information about SureWerx, please visit http://surewerx.com.
About SureWerx
Co-headquartered in Vancouver, British Columbia, and Elgin Illinois, SureWerx™ is a leading supplier of professional tool, equipment and safety products for workers. SureWerx markets its products in Canada under the JET®, Strongarm®, ITC®, STARTECH®, Pioneer®, Ranpro®, PeakWorks®, and Sellstrom® brands, and in the United States under the American Forge & Foundry®, Pioneer, Ranpro, PeakWorks, and Sellstrom brands. SureWerx offers unparalleled access to its brands through its partner distributor network servicing the industrial, construction, safety, and automotive aftermarket in North America. For more information, please visit us at www.surewerx.com or www.surewerx.ca.
The Riverside Company
The Riverside Company is a global private equity firm focused on making control and non-control investments in growing businesses valued at up to $400 million. Since its founding in 1988, Riverside has invested in more than 560 transactions. The firm's international portfolio includes more than 80 companies.
