Kimberly-Clark acquires privately held safety products company Jackson Products
16 Apr 2009
Kimberly-Clark on Tuesday said it has acquired privately held safety products company Jackson Products Inc. The company did not disclose the terms of the deal with the Fenton, Missouri-based company, which is more commonly known within the industry as Jackson Safety.
Jackson Products, led by president and CEO Tom Burns and chairman George Kelly, has 400 employees. It will now operate as a division of Kimberly-Clark Professional with Burns as the division's leader.
Jackson makes and sells welding safety products, personal protective equipment and work zone safety products.
"The acquisition of Jackson Safety is consistent with our global business plan strategy to accelerate growth of high-margin workplace solutions," Jan Spencer, president of Kimberly-Clark Professional, said in a statement.
Kimberly-Clark Professional is the $3 billion global business unit of Kimberly-Clark Corp that manufactures and markets washroom and skin care products, disposable wipes, personal protective apparel and facemasks and gloves.
Kimberly-Clark said the acquisition expands its safety portfolio in North America and Europe and will help speed its growth in developing regions. Irving, Texas-based Kimberly-Clark described the acquisition as consistent with the company's goal to develop a product line that sells workplaces their specific needs.
Baker Botts served as outside legal counsel to Kimberly-Clark, while Jackson Products was advised by Houlihan Lokey as financial adviser and Willkie Farr & Gallagher as legal counsel.
