Avon Protection signs agreement to acquire Team Wendy
Avon Protection is pleased to announce the signing of an agreement to acquire Team Wendy (www.TeamWendy.com), a leading supplier of helmets and helmet liner and retention systems for Military and First Responder markets.
Following completion, the acquisition will bring together two leading providers to create a global leader in helmets. The enhanced and broader product portfolio will include:
- Enlarged helmet portfolio – A full range of tactical bump helmets, ballistic combat helmets and search & rescue helmets as well as related accessories.
- Liner and retention systems – Leading liner and retention system technologies, used in U.S. DOD helmets and throughout the Team Wendy product range.
Commenting on the acquisition, Paul McDonald, Chief Executive said:
“The acquisition of Team Wendy is another important strategic step in the transformation of Avon Protection into a leading provider of life critical personal protection systems.
Team Wendy is a high-quality business with complementary liner and retention system technologies and established positions in Rest of World Military and First Responder helmet markets. Bringing Team Wendy into the same family with our existing Helmets & Armor business establishes Avon Protection as a global leader in Military and First Responder helmets, with an enhanced and broader product portfolio with stronger capabilities and routes to market.
We look forward to welcoming Team Wendy into the Avon Protection family and working together to further develop head protection systems that prevent traumatic brain injury and to improve the performance and capability of our customers.”
Jose Rizo-Patron, Team Wendy, Chief Executive Officer, added:
“Today’s announcement marks an exciting new chapter for Team Wendy that will usher in new opportunities for our employees, our customers and our business partners.
It was important for us to find the right owner for Team Wendy with a shared vision to save lives by providing the best for anyone wearing a helmet and who would continue to build on Team Wendy’s legacy.
Avon Protection shares our vision for the growth and expansion of Team Wendy and, as such, we believe they are the right long-term partner for our customers, employees and other stakeholders.”
The acquisition is subject to U.S. regulatory approvals, approval by Avon Rubber’s shareholders and customary closing conditions and is expected to complete in the first quarter of our 2021 financial year.
Upon completion, Team Wendy will continue to operate on a standalone basis from its Cleveland Ohio base, benefiting from the wider Avon Protection infrastructure and management support.