23.11.2009

Odyssey picks up Safway

Private equity firm, Odyssey Investment Partners, has bought back into the access business by acquiring Safway Group from ThyssenKrupp for an undisclosed sum.

Odyssey previously owned rental company Neff which is purchased in 2005, selling it on in 2007.

Safway has over 90 locations in the USA and Canada, with a workforce of around 5,000 and annual revenues of around $700 million. Odyssey is acquiring both ThyssenKrupp Safway, Inc. in Waukesha/Wisconsin as well as Canadian subsidiary ThyssenKrupp Safway, in Fort Saskatchewan/Alberta.

Douglas Rotatori, managing principal of Odyssey said: “Odyssey has a long and successful history investing and growing businesses in the equipment rental and industrial services industries. Safway has posted outstanding financial performance under ThyssenKrupp’s ownership. 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.”