Summit signals EMED sale for $190m

The Boston firm agrees to sell the sign maker to Brady Corp. and also completes a co-investment with Berkshire in radiological protection services company Bartlett Nuclear.

Summit Partners has agreed to sell sign and safety company EMED Co. to Brady Corp. for $190 million (€156 million).

 

EMED products include traffic and parking signs, first aid and protective gear, and other custom signage and safety solutions. In 2003, the company reported sales of $55 million. Brady expects the EMED purchase to strengthen its position in several markets, including government, transportation, traffic control and grounds identification, according to news reports.

 

The Summit exit comes right alongside the completion of Summit’s co-investment with Berkshire Partners in Bartlett Nuclear, which provides radiological protection services to the US nuclear industry.

 

In addition, earlier this month, Summit closed its third subordinated debt fund, bringing its combined capital to approximately $940 million in the asset class. Summit Subordinated Debt Fund III will co-invest with Summit Partners private equity funds – which have combined capital of $4.7 billion – and will provide up to $70 million of mezzanine debt per transaction in private, profitable companies in emerging growth industries.