Dunedin’s £280m sale of Birmingham-based Kee Safety was named “International Deal of the Year” at the Insider Midlands Dealmakers Awards 2018 on account of “its great return for shareholders and managers.” In addition, the sale was shortlisted for “Deal of the Year.”
Kee Safety, the global supplier of safety solutions and products designed to protect people from hazards, was sold to Investcorp in October 2017. The sale achieved a full exit for Dunedin’s Buyout Fund III and a return of 3x money invested (IRR of 35%).
During Dunedin’s four-year ownership period, Kee Safety significantly increased its geographic footprint across Europe, North America, Asia and the Middle East and more than doubled its revenues. Today, the business sells its products in over 60 countries. Internationalisation is a key feature of Dunedin’s approach to creating value in UK businesses.
Nicol Fraser, Partner of Dunedin, commented: “We are delighted that the sale of Kee Safety has been named as International Deal of the Year and shortlisted as Deal of the Year by Insider. This award rightly recognises that Kee Safety is a great example of a Midlands based business that has expanded into international markets and is successfully competing on a global stage. The sale to Investcorp not only provided a strong return for our investors but also positioned the Company well for its next stage of growth. This is a well-deserved compliment to Kee Safety’s management team, who have been so instrumental in achieving international success.”