New York, NY (June 1, 2015) – JLL Partners, a middle market private equity firm based in New York, announced today that it has acquired Point Blank Enterprises ("Point Blank" or the "Company") from an affiliate of Sun Capital Partners, Inc. The terms of the transaction were not disclosed.
Headquartered in Pompano Beach, Florida, Point Blank is the largest supplier of ballistic and soft armor systems to U.S. military and law enforcement customers, with an established group of international customers. The Company develops, manufactures and distributes a range of high performance protective solutions, including bullet, fragmentation and stab resistant apparel and related accessories. Point Blank's products are widely considered to be the most technologically advanced systems available, and are supported by the Company's state-of-the-art internal R&D and testing capabilities and its partnerships with leading ballistic material suppliers. The Company has long-standing relationships with federal, state and local procurement agencies and has an established network of distributors throughout the U.S.
"Point Blank is an industry leader with a strong management team, excellent relationships with customers and suppliers, and cutting-edge product offerings," said Kevin Hammond, Managing Director of JLL Partners. "We are excited to partner with the senior management team, led by CEO Daniel Gaston, and look forward to working with the team to support the next chapter of the Company's growth. Consistent with other JLL investments, we believe Point Blank is well positioned to capitalize on both organic and M&A growth opportunities that we will work with management to execute in the near-term."
Daniel Gaston said, "I look forward to partnering with JLL and believe the prospects for the Company have never been more attractive. Point Blank has a proven track record of supplying innovative and life-saving protective solutions with a commitment to product quality and safety, which we will look to build-upon under JLL's ownership. The Company will continue to work with a variety of U.S. and international customers to fulfill large orders under demanding delivery timeframes."
ABOUT JLL PARTNERS
JLL Partners is a middle-market private equity firm with a 27-year track-record of adding value to complex investments through financial and operational expertise. Since its founding in 1988, JLL Partners has managed over $5.0 billion across seven funds. The firm has developed significant expertise in sectors including healthcare, building products, financial services, aerospace and defense, and business services. For more information, please visit www.jllpartners.com.
ABOUT POINT BLANK
Founded in 1973, Point Blank is largest provider of ballistic and soft armor systems in the world. The Company sells over 25 branded products, including tactical vests, concealable vests, and hard armor plates, for both male and female military and law enforcement users. Point Blank's brands include Point Blank Body Armor, Protective Products, PACA and PARACLETE. For more information, please visit www.pointblankenterprises.com.