BOCA RATON, FL Sun Capital Partners, Inc. (“Sun Capital”), a leading private investment firm specializing in leveraged buyouts and investments in underperforming companies, today announced that its affiliate Protective Products Enterprises has acquired substantially all of the assets of Protective Products of America through a 363 bankruptcy sale. The sale was approved by the Bankruptcy Court of the Southern District of Florida on February 19, 2010. The company, which ranks among the top qualified U.S. providers of soft body armor for military and law enforcement personnel, will continue to operate under its recognized brand, “Protective Products”.
“We are delighted with our agreement to be acquired by an affiliate of Sun Capital,” said Neil Schwartzman, Acting CEO, Protective Products Enterprises. “As a result of the reorganization, our company re–enters the market with a simplified business model and stronger capital structure, and is better positioned overall to continue to supply our customers with the highest quality, certified protective ballistic products. With Sun Capital’s financial support and extensive manufacturing experience, Protective Products now has the necessary resources to invest in our business and pursue the numerous domestic and international growth opportunities that exist in the current marketplace.
Said Brian McGee, Vice President at Sun Capital Partners, “We look forward to working closely with the management team and board of directors to further capitalize on the Company’s position as a leading provider of a comprehensive line of high quality protective products. We foresee a number of opportunities to grow the business both organically and through add–on acquisitions.”
Farlie Turner’s Special Situation Group served as the Company’s investment banker and financial advisor.
About Protective Products Enterprises
Protective Products Enterprises designs, manufactures, and markets advanced products used to provide ballistics protection for personnel and vehicles in the military and law enforcement markets. Products include concealable soft body armor products for law enforcement and the Improved Modular Tactical vest, a ballistic system for military personnel. The company produces and sells body armor to several branches of the U.S. armed forces, federal agencies, and local and state police forces. For more information, please visit www.proctectiveproductsofamerica.com.
About Sun Capital Partners, Inc.
Sun Capital Partners, Inc. is a leading private investment firm focused on leveraged buyouts, equity, debt, and other investments in companies that can benefit from its in–house operating professionals and experience. Sun Capital affiliates have invested in and managed more than 220 companies worldwide with combined sales in excess of $40.0 billion since Sun Capital’s inception in 1995. Sun Capital has offices in Boca Raton, Los Angeles, and New York, as well as affiliates with offices in London, Paris, Frankfurt, Shanghai and Shenzhen. Sun Capital has been one of the most active private investment firms in the U.S., closing 169 transactions from 2002 through 2009. For more information, please visit www.SunCapPart.com
For more information, please contact:
Neil Schwartzman
Acting CEO
Protective Products Enterprises
(954) 846–8222
Alex Stanton
Stanton Public Relations & Marketing
New York, NY 10022
(212) 780–0701
