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Case Study 1

Code Red Safety & Rentals

Positioning a leading safety provider for more growth and reach

For over 25 years, this leading industrial safety platform has supported mission-critical safety needs in the power, steel, chemical, refining and industrial markets. Founded in the Midwest, the company now operates through eight branches across the United States, providing offerings that include safety equipment rental, standby rescue services, safety personnel staffing and in-plant communication solutions. Hastings has partnered with the Code Red founders and leadership, as well as industry veterans, to accelerate growth and geographic reach.

Challenges

Getting the growth capital to scale rental equipment fleet

Expanding beyond legacy Midwest and Gulf Coast presence

Streamling accounting and finance processes to accommodate significant growth

Differentiating service offerings from its competitors

Value Creation

Recruited CFO, VP of Technology and VP of Business Development to enhance corporate staff and support a scaling organization

Completed and integrated strategic add-on acquisition of Critical 2-Way Communications to increase Code Red’s service offering into in-plant communications solutions

Expanded business’ geographic reach with the addition of a California and Oklahoma branch

Supported capital investment and launch of new Turnaround Division to strengthen the existing equipment rental business

Established a board of directors, including two independent directors with extensive experience in safety technology and the chemical industry

Less than six months into investment, Hastings has already brought capital and experience to the Code Red platform, repositioning it as a leading provider of industrial safety solutions. With its enhanced rental fleet and new Turnaround Division, the company is well-equipped to service large-scale projects. Its combination of best-in-class service and a strengthened bench of leaders has set Code Red up for a whole new level of growth.

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