Gryphon-backed Safety Management Group buys CrossSafety
PE Hub reported that the deal adds about 150 Canadian health, safety and environmental professionals to SMG, taking its workforce above 500.
By Rafael Ortiz · Fintech Correspondent
· 2 min read
Safety Management Group, an Indianapolis-based provider of safety, environmental and risk management services, has acquired CrossSafety, a Canadian health, safety and environmental services company, according to PE Hub. The transaction expands SMG’s workforce by about 150 environmental, health and safety professionals, taking total headcount to more than 500, PE Hub reported.
SMG is a portfolio company of Gryphon Investors, the private equity firm identified by PE Hub as its backer. CrossSafety’s addition extends SMG’s professional base in a field where service capacity is closely tied to specialist staff, client-site coverage and technical compliance work.
PE Hub described CrossSafety as a Canadian provider of health, safety and environmental services. It described SMG as an Indianapolis-based provider of safety, environmental and risk management services.
Private equity platform expansion
The deal fits the common private equity platform model, under which an investor-backed operating company buys complementary businesses to broaden its services, geographic reach or workforce. In this case, the disclosed operational effect is the addition of approximately 150 environmental, health and safety employees to SMG.
PE Hub did not report financial terms in the available details. It also did not specify the seller, the closing date or the structure of the transaction.
For SMG, the most clearly disclosed change is scale. With CrossSafety included, the company will have more than 500 team members, according to PE Hub. That implies CrossSafety’s professionals will account for a meaningful portion of the enlarged workforce.
Health, safety and environmental services providers typically support companies in areas such as workplace safety, environmental compliance and risk controls. PE Hub did not provide further detail on CrossSafety’s customer base or the specific services being added to SMG.
Gryphon Investors’ backing places SMG within the private equity-owned business services sector, where acquisitions are often used to consolidate specialist providers. PE Hub classified the story under business services.
This story draws on original reporting from PE Hub.
