Power climber parent sold
SafeWorks, the suspended access specialist, has been acquired by Wynnchurch Capital Partners, a Chicago-based private equity firm specializing in management buyouts, recapitalisations and corporate spin-offs.
SafeWorks was formed in 1997 as the parent for the Spider and Power Climber brands. The Spider division has 24 sales and rental locations across North America. Spider was founded in 1947 and Power Climber in 1972. Power Climber has a European base in Antwerp Belgium in addition to its North America operations.
With the sale of SafeWorks, Scott Farrell, SafeWorks’ current chief operating officer, has taken over the role of chief executive. The current CEO Dave Voeller, moves to the post of Senior Advisor in order to allow him to exit the business.
“I am very proud of the accomplishments and significant value we have created at SafeWorks over the last few years, and believe the sale and transition of leadership will benefit customers, employees and the new shareholders,” said Voeller. “I look forward to finding other companies like SafeWorks where I can help improve performance.”