Leeds headquartered Hesco has today announced that the business has been acquired by Betafence, the global perimeter security specialist, for an undisclosed sum.
Hesco is recognised internationally as an iconic brand synonymous with force protection. It specialises in producing and delivering rapidly deployable perimeter protection, safe haven bunkers and ballistic resistant body armor for the defense, energy and law enforcement sectors, supplying clients including the U.S. Army; United Arab Emirates Land Forces; United Nations, and U.K. Ministry of Defense. Hesco also has a long history of supplying products for fighting floods, particularly in the US, most recently deploying barriers along the LA River.
Hesco has been an established partner of Betafence for a number of years and, following this transaction, will operate as a stand-alone subsidiary of Betafence, led by CEO Michael Hughes. The acquisition is a positive move for both Hesco and Betafence employees. It underpins Betafence’s growth strategy and financial strength, and for Hesco gives the opportunity to become part of a complementary global business, bringing a number of benefits to both sides including access to Betafence’s research capabilities, whilst also enabling Hesco to expand its customer portfolio. The deal also strengthens Betafence’s presence in the UK and Yorkshire while marketing the Hesco brand to a wider audience.
Michael Hughes, CEO of Hesco explains: “This is an exciting opportunity for Hesco. Our partnership with Betafence will enable us to accelerate Hesco’s development and we will immediately add significant value to Betafence’s provision of solutions for High Security perimeter protection around the world. There are numerous opportunities for collaboration for our key markets and we believe that being part of the Betafence Group will help ensure continued future success for our employees, customers and suppliers. I will remain at Hesco in my role as CEO, running the business as a stand-alone subsidiary and being firmly focused on our ethos of protecting people and assets. It’s business as usual, there is no disruption to the operation of Hesco and we are committed to maintaining our presence in Leeds. We feel this is a significant step forward for the business, opening up many interesting and rewarding opportunities to expand and integrate our commercial strategy with Betafence. The future looks very promising for our employees and all other stakeholders alike.
“I would also like to take this opportunity to thank the Heselden family for all their support, since the untimely death of Jimi Heselden OBE. Jimi was Hesco’s iconic founder and creator of the defensive barrier system that has defined the landscape in theatres of conflict and areas affected by climatic events or environmental crisis. His uncompromising drive to create products that continue to save lives, property and the environment is his legacy and will continue to exist in Hesco’s values.”
Julie Heselden added: “We are all immensely proud of the success of Hesco and the lasting legacy that has been forged in Jimi’s name. He was a very well known figure locally for both his role at Hesco and charitable activities. He has created a brand valued globally by anyone concerned with security in today’s dangerous world. We feel this deal is something that Jimi would have been happy with and we know this was ultimately part of his strategy in order to move the business forward. Hesco continues to operate in the very safe hands of Michael Hughes and we wish everyone at Hesco and Betafence all the very best for what is an exciting future.”
Local legal advisors involved with the transaction were Richard Moran and Rachel Dean of Clarion for the Heselden family and Alison Starr from Eversheds for Betafence; assisted by in-house counsel Charlotte Callens of Betafence and Andrew Taylor of Hesco.