Industrial and Safety
Our Operating Partner
Jason Grouette joined Banyan as an Operating Partner in November 2022. Jason works closely with the Banyan team in exploring investment opportunities in the safety and industrial B2B space.
Prior to joining the firm, Jason spent 23 years with 3M, including 16 years of experience leading $100M+ businesses across the industrial market including leadership of the Personal Safety Division, where he successfully led the integration of Capital Safety, positioning 3M as the industry leader in the Canadian market.
In 2017, Jason joined 3M Canada’s Operating Committee as Executive of 3M’s Electronics & Energy Business (EEBG), later adding the Industrial & Safety Market Centre to his responsibilities. EEBG evolved into the Transportation & Electronics Business Group (TEBG), a group focused on OEMs, converters and fabricators across a variety of market segments.
In 2019, Jason was appointed the USA leader for the Personal Safety Division, with Canada added to his responsibilities the following year. Jason is most proud of his team’s leadership and perseverance as they led 3M’s USA and Canadian N95 response to the COVID-19 pandemic.
Together, we are a seeking an opportunity that exhibits the following characteristics:
Investment: Control position (51% – 100%) with flexibility on post-transaction involvement from existing ownership group and management team.
Situation: Established business that is founder-led, sponsor-backed or a division of a large corporation seeking a carve-out.
Industry: Primary focus is on manufacturers or distributors of the following products and segments within the safety industry:
- Fire Service: SCBA, bunker or turnout gear, hoses, equipment/vehicles, nozzles, fire pumps, foam systems and other products and equipment serving municipal, industrial, agricultural and various other end-markets.
- Engineered Safety Equipment: fall protection, building safety systems, lanyards, anchors, guardrails, safety nets and other related systems and equipment.
- Personal Protective Equipment: fall protection harnesses, slings, hearing/communications, eyewear, gloves, boots, garments, and other wearable PPE.
More broadly, we are also interested in Industrial B2B, including product manufacturers that sell through large industrial distribution (e.g., Grainger, Fastenal, Brafasco, etc.) or other specialized distributors operating in that space.
Business Type: Manufacturer or distributor, anchored by product(s) with a service component.
Size: Minimum $5 million of EBITDA on a trailing-twelve-month basis. Will entertain $3-5 million EBITDA businesses as part of a broader consolidation strategy
Location: Headquartered in Canada or the U.S. with a preference for opportunities with a Canadian presence, though not a hard requirement.
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Banyan Capital Partners
November 7th, 2022