Hastings Equity Partners Announces Formation of Code Red Safety
BOSTON, MA (July 31, 2019) — Hastings Equity Partners ("Hastings"), a private equity firm focused on investing in lower middle market businesses, announced its third Fund IV platform investment: Code Red Safety (Code Red).
Based in Houston, Texas, Code Red is a leading provider of safety equipment rental, safety product sales, high angle and confined space rescue and in-plant communication services. Code Red serves a blue-chip customer base across the industrial, refining, petrochemical, automotive, steel and power generation markets, and was formed with the acquisitions of Code Red Safety and Critical 2-Way Communications. With 14 independent locations across the United States, Code Red is uniquely positioned to deliver a comprehensive suite of safety product and service offerings with the best-in-class service. Code Red is an expert in providing superior safety solutions during turnarounds, maintenance, capital projects and emergency call outs. Led by a deeply experienced management team, Code Red will continue to expand its suite of rental equipment, specialized services and geographic locations.
“It’s an exciting time at Code Red,” said Nick Mowbray, Chief Executive Officer. “We have a phenomenal team of managers and employees who are veterans of the industrial safety industry. We have customer focused solutions that maximize the safety and productivity of each of our customer. The future is very bright at Code Red.”
“Code Red Safety and Critical 2-Way are a terrific combination. The combined business has best-in-class equipment and personnel,” said Mike Miller, a member of the executive management team. “I am extremely proud of what we are building and our partnership with Hastings will enhance our ability to grow.”
“Safety is paramount in every company we invest in and the markets they serve,” said Ted Patton, Managing Director of Hastings. “Code Red’s independent safety platform provides the best technology available to the market, and can handle the scale, complexity and time-sensitive nature of its customers. Code Red has a talented team and a premier safety record. We are thrilled to partner with Nick, Mike and the entire team at Code Red.”