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Safway to be acquired by New York private equity investors
Published November 16, 2009 - BizTimes Daily
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Odyssey Investment Partners LLC, a New York-based private equity firm, has reached terms to acquire Waukesha-based ThyssenKrupp Safway Inc., a renter and erector of construction scaffolding that has 5,000 employees in the U.S. and Canada.
Terms of the acquisition were not disclosed. It is expected close in the first quarter of 2010.
Safway is currently owned by ThyssenKrupp AG, a German industrial material and technology company.
“Safway has posted outstanding financial performance under ThyssenKrupp’s ownership,” said Douglas Rotatori, managing principal of Odyssey Investment Partners. “The company is a leader in the scaffolding sector, with strong prospects and acquiring this business presents an attractive opportunity to build on our record. We look forward to working with Safway’s management to enhance the company’s long-term value.”
