Farlie Turner Advises H.I.G. Capital on Portfolio Company Divestiture to Argus Group
FORT LAUDERDALE, Fla., Aug. 10 /PRNewswire/ -- Farlie, Turner & Co., LLC announced today that it served as exclusive financial advisor to H.I.G. Capital ("H.I.G.") on the private equity firm's recent divestiture of Total Safety Environmental ("TSE") to the Argus Group. TSE, a division of H.I.G.'s successful portfolio company Total Safety US, Inc., is a leading provider of portable monitoring and safety equipment to the environmental consulting industry. TSE rents equipment to its customers primarily through direct shipment to job sites, a practice known as "out-of- box" rental. In addition to renting equipment, TSE is a leading distributor of portable safety, sampling and monitoring equipment, and provides reliable, comprehensive repair services, including preventative maintenance and equipment calibration, through its state-of-the-art distribution center in Dayton, Ohio. The Argus Group is a family of companies providing comprehensive safety, industrial hygiene and environmental monitoring products and services specifically designed to help companies reduce worker injuries, control costs and increase profitability. The Argus Group is proud to be celebrating over 50 years of serving the safety industry, and is headquartered in Chesterfield, Michigan. Argus plans to operate the newly acquired entity under the name "Hazco Services." H.I.G. Capital and the Argus Group announced Monday that Argus had closed on its acquisition of Total Safety Environmental. Terms of the transaction were not disclosed. "Farlie Turner ran an extremely effective transaction process which resulted in the identification of the best partner for our division. The firm's principals were committed to our transaction from beginning to end," stated H.I.G. Managing Partner Brian Schwartz. H.I.G. Principal Stenning Schueppert added, "Farlie Turner was instrumental in moving this transaction to closing through their dedication to this assignment -- a truly valued partner that exceeded our expectations based on other similar service providers. Having them located in South Florida was a major advantage, as it enhanced their level of commitment, accessibility and quality of service. I look forward to working with them again soon, as their talent, flexibility and character were both appreciated and mutually rewarding." Craig Farlie, a partner of Farlie Turner, commented, "We were very pleased to work with H.I.G., a leading private equity firm that has consistently produced excellent results. We believe that the TSE transaction is an example of our experienced, customized approach to each transaction in which we are involved." About H.I.G. Capital H.I.G. Capital LLC is a leading private equity and venture capital investment firm with more than $1.5 Billion of equity capital under management. Based in Miami, and with offices in Atlanta, Boston, and San Francisco, H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well managed manufacturing or service businesses, and in promising early-stage technology companies. H.I.G. also has extensive experience with financial restructurings and operational turnarounds. Since its founding, H.I.G. has completed in excess of 70 transactions. The firm currently has a significant stake in more than 40 companies with combined revenues in excess of $5 Billion. For more information, please refer to the H.I.G. website at http://www.higcapital.com . About Total Safety Total Safety provides outsourced safety services to some of the world's largest industrial and energy companies through product offerings such as gas detection and respiratory equipment services, fire protection and engineering systems design, safety consulting and training, and safety equipment rental and sales. Its long term relationships include leading energy and industrial companies known throughout the world. For more information, please refer to their updated website at http://www.totalsafety.com . About Argus Group The Argus Group is a family of companies providing comprehensive safety, industrial hygiene and environmental monitoring products and services specifically designed to help companies reduce worker injuries, control costs and increase profitability. The Argus Group is proud to be celebrating over 50 years of serving the safety industry, and is headquartered in Chesterfield, Michigan. For more information, please visit the Argus website at http://www.argus-group.com or call (586) 840-3200. About Farlie Turner Farlie, Turner & Co., LLC, and its affiliate Bayshore Partners, LLC, a broker-dealer registered with the NASD, provide merger and acquisition, private placement, and financial advisory services to middle market companies. For more information, please visit the Farlie Turner website at http://www.farlieturner.com or call 954-358-3800.
SOURCE Farlie, Turner & Co., LLC
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