Private shareholders have sold ISM Heinrich Krämer to Protective Industrial Products, a portfolio company of Odyssey Investment Partners

ISM Heinrich Krämer

ISM Heinrich Krämer GmbH & Co. KG is one of the world’s leading and fastest-growing providers of athletic-inspired safety footwear. The company is well known for its innovative footwear technology and designs, serving both men and women in the workplace under the Puma Safety, Albatros and Footguard brands.

The Deal

The shareholders of ISM have signed a definitive agreement to sell the company to Protective Industrial Products (PIP). Following an extended track record of continuous strong growth, the shareholders’ objective was to find the right strategic partner to support ISM in the next phase and further accelerate its strong momentum, expand its international reach and product innovations and strengthen its distribution capabilities. Lincoln International’s global Consumer Group supported the process, providing long-standing relationships and relevant insights to a global buyer universe, demonstrating its international reach and sound understanding of the safety work and footwear market environment and enabling a very structured and efficient process.

Our Perspective

Dirk Damegger, Managing Director in Lincoln International’s Frankfurt office, commented, “It was a great pleasure to advise the shareholders of ISM in this very competitive process. With PIP as a strong strategic partner, the shareholders found the ideal partner from a business as well as personal perspective and we are confident that this combination will be a great success and growth story in the future.”

Protective Industrial Products

PIP, a portfolio company of Odyssey Investment Partners, is a leading provider of essential, consumable and high-performance personal protective equipment to distributors and retailers in North America with a growing international presence. The product portfolio comprises hand and arm protection, protective clothing, eye and hearing protection and head protection which are offered through a combination of owned, partner, licensee and private-label brands.


Odyssey is a U.S.-based private equity firm focusing on investments in North America-based middle market companies valued at up to $1 billion. With more than 30 years of experience, Odyssey seeks to develop market-leading companies by targeting attractive industry niches and identifying leading platforms within these niches.

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Given Lincoln's global reach and high level of professionalism, we found PIP, the best partner for our business. The strong commitment and personal engagement of Lincoln's team made the difference throughout the project, and it was fun working with them.
Julia Krämer-Gümüs and Engin Gümüs
Managing Directors at ISM Heinrich Krämer

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