GRAND RAPIDS — Uvex Winter Holding, a safety equipment manufacturer based in Fürth, Germany, has acquired a minority stake in Grand Rapids-based Hex Armor.
Under the deal, Hex Armor, a manufacturer of cut- and puncture-resistant gloves, will begin selling Uvex Safety Group’s line of protective eyewear as early as next week, said Todd Mellema, chief revenue officer of Hex Armor.
Uvex Safety Group, a subsidiary of Uvex Winter Holding, also will sell Hex Armor’s gloves through its sales channels in Europe and elsewhere as part of the deal, Mellema said.
The transaction comes as the culmination of a three-year process for both companies.
“We’re excited,” Mellema told MiBiz. “This is going to give our employees here in West Michigan even more opportunities than they already have.”
Hex Armor currently employs 150 workers and sells its products in 80 different countries. Mellema declined to provide annual sales for the company.
The deal will allow the European Uvex to reenter the U.S. market after selling the rights to its trademark and products to Honeywell (NYSE: HON), a global conglomerate based in Morris Plains, N.J., in 1993. Currently, Honeywell is the only company allowed to sell Uvex-branded products in the U.S., Mellema said.
This deal will allow Uvex Safety Group’s products into the U.S. market under the Hex Armor brand, Mellema said.
“After an absence of more than 20 years, the partnership with Hex Armor clearly signals the return of the Uvex Safety Group to the American safety products marketplace,” Stefan Brueck, CEO of Uvex Safety Group, said in a statement.
Terms of the deal were not disclosed.